FTSE: Grim start to the year with three consecutive bearish, biggish, candles – known as three black crows. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle

 

FTSE SHORT TERM TRADER: Small short at 7055; stop above 7100; target 6700.

FTSE POSITION TAKER: Short at 6850 and at higher levels; stop above 7100. Target the 6675/6700 area.

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French strikes
To test Macron’s mettle

Today the first of a planned three-month series of strikes start in France. Centred around railway monopoly SNCF, changes in job contracts, retirement age, university admissions among other elements will probably ensure that other unions will join in. Working three days, then striking for the next two, even university students are threatening to join in evoking the 1968 unrest.

In a report compiled by HMRC, figures show that in the 20 years to the tax year 2015/16 double (a total 4.87 million) the number of Britons paid the top two rates of tax, accounting for two thirds of income tax receipts; 362,000 paid the 45 per cent rate. The planned increase for the 40 per cent threshold to £45,000 will reduce these figures.

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