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The FTSE 100 will remain closed on Monday, August 31, amid a Summer Bank Holiday in England, Wales, and Northern Ireland, meaning there will be no trading today and major indices like the FTSE, FTSE 100, and FTSE 250 will all be closed. On Friday, August 28, the FTSE 100 closed at 10,824.26, gaining 0.3%.
AstraZeneca's recent updates focus on its H1 and Q2 2026 results, with the positive Phase 3 CROSSING trial for Tezspire in eosinophilic esophagitis being a major development, announced on 27 August.
The drug demonstrated statistically significant and clinically meaningful improvements across both endpoints at week 24, with the results holding at week 52 and a safety profile similar to that seen in approved indications, sources said. The consensus price targets for the next 12 months are around 16,012p, and that suggests a 32.2% increase from the current levels.
For FY2026, Babcock’s revenue came in at GBP 5.18 billion, up from GBP 4.83 billion the year prior, while underlying operating profit climbed 19% to GBP 433 million. Reported earnings per share (EPS) decreased 21% to 39.6p, though after adjusting for a GBP 140 million once-off charge.
The key element to have been sparking growth is increased defence spending and multi-year visibility in contracts related to nuclear submarines and secure communications in the UK. Management also announced a new GBP 200 million share buyback.
The index retains the bullish bias following a close around 10,824, which is just above its 20-day EMA at 10,800.2. The index is also well above the 50-day and 100-day EMAs at 10,706.6 and 10,572.2, respectively, as well as the 200-day EMA near 10,299.4, thus maintaining the overall uptrend.
There is strong resistance at 10,900, with the major Fibonacci resistance at 10,938.3. Any rally above 10,938 might give bulls a chance to regain momentum and extend to the 1.272 Fibonacci extension at 11,283.3. If the index fails to break the recent highs, it could stay range-bound.
On the downside, initial support is at 10,800, followed by the 0.786 Fibonacci level just above 10,666.9, which also coincides with the rising trendline. A break below this zone could weaken the short-term structure and expose 10,572 and 10,453.8.
Bias remains cautiously optimistic while 10,667 holds, as buyers continue to support the rising trend through August.
In the US, stock futures declined early Monday after the US struck Iranian rocket launchers at Larak Island in the Strait of Hormuz, reigniting escalation fears. Dow Jones Industrial Average futures traded 155 points lower, or 0.29%. S&P 500 futures also slipped 0.36%, while the Nasdaq-100 futures lost 0.4%.
In Asia on Monday, Tokyo's Nikkei 225 dipped 0.14% to 66,311.93, while China’s Shanghai Composite gained 0.86%. Hong Kong’s Hang Seng declined 0.25%, and South Korea’s Kospi rose 0.46%. In India, both the Nifty 50 and the Sensex fell by 0.42% and 0.39%, respectively.
Also Read: Stock Market Update: Nifty 50 Opened 58.1 Points Lower, Sensex Started at 77,130.73 Amid Mixed Cues
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