FTSE 100 macro outlook · updated 12 November 2026
Is the FTSE 100 bullish or bearish?
As of 12 November 2026, the FTSE 100 scores 59 out of 100 on the WatchTower Terminal macro composite, a bullish read. The FTSE 100 carries a composite score of 57/100 and a Bullish macro bias, though the backdrop is mixed. Tighter domestic monetary conditions and softer consumer demand weigh on valuations, while elevated long-term funding costs keep equity risk premiums under pressure. Stable inflation expectations offer some reassurance, but the market remains alert to fiscal and demand risks.
Composite score
59
Bullish
56+ bullish · 45 to 55 neutral · under 45 bearish
Reading of 12 Nov, 09:30 London
What is behind the number.
Current drivers
- Tighter monetary policy constrains equity valuations
- Housing and retail data point to weakening domestic demand
- Persistent pricing pressures despite stable inflation expectations
- Government borrowing needs keep long-term yields elevated
How this score is built
Published weights, not a black box.
Every index is scored on the weights shown here, on the same 0 to 100 scale as every other market, so a 56 here means what a 56 means anywhere else.
- COT level20%
- Earnings20%
- Bank research15%
- Seasonality15%
- Central bank15%
- Fundamentals15%
The rest of the board
Ranked strongest to weakest on the same scale.
Related free data
About FTSE 100
Is FTSE 100 bullish or bearish right now?
As of 12 November 2026, FTSE 100 carries a bullish macro read, scoring 59 out of 100 on the composite. 56 and above reads bullish, below 45 reads bearish, and the band between is neutral.
What is driving FTSE 100?
Current drivers include: Tighter monetary policy constrains equity valuations; Housing and retail data point to weakening domestic demand; Persistent pricing pressures despite stable inflation expectations; Government borrowing needs keep long-term yields elevated.
How is the FTSE 100 macro score calculated?
Equity indices run on their own published weights: cot level 20%, earnings 20%, bank research 15%, seasonality 15%, central bank 15%, fundamentals 15%, re-weighted over the inputs an index actually has. 56 and above reads bullish, below 45 reads bearish.
Where can I track FTSE 100 in real time?
This page reads it live with no account. In WatchTower Terminal, Asset scores carries the live FTSE 100 score and every driver behind it, alongside every G10 currency, metals and global indices, and Asset in full and Score history add the written read and the full history. The terminal is $10 for your first month, then $49 a month, or $490 a year with 2 months free. Cancel from Billing at any time.
Track it live
This is 1 number. The terminal shows the working.
Every component and the weight it carries, in Asset scores, with the history of how the score has moved, the positioning behind it and the research it came from. The terminal is $10 for your first month, then $49 a month. Cancel from Billing at any time.