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12th Aug 2022. 7.42am

Regency View:

Morning Report – Friday 12th August

FTSE to open at 7,473 (-7 pts)

The S&P 500 edged lower yesterday having closed more than 2% higher on Wednesday.

While European electricity prices soared to record highs on Thursday, as the prolonged heatwave added pressure to power markets already under strain from Russia’s cuts to the continent’s gas supplies.

Overnight in Asia, Japan’s Nikkei 225 rallied more than 2.5% higher as markets reopened following a national holiday. And Hong Kong’s Hang Seng index made smaller gains as Chinese blue-chips weakened.

This morning’s UK GDP figure indicated the economy fell 0.1% in the second quarter of the year after rising 0.7% in the previous quarter.

S&P 500-0.07%Neutral for UK stocks
Hang Seng+0.34%Bullish for UK stocks
Gold+0.08%Neutral for UK stocks
AUD/JPY+0.51%Bullish for UK stocks
US 10yr Yield+103ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Having looked like prices had broken clear of the inside day pattern, yesterday’s price action gave back all of Wednesday’s gains – forming a bearish two-bar reversal pattern.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Flutter Ent (FLTR)
888 Holdings (888)
UK Economic Announcements
(07:00) Industrial Production
(07:00) Manufacturing Production
(07:00) Balance of Trade
(07:00) Gross Domestic Product
(07:00) Index of Services
International Economic Announcements
(12:45) ECB Interest Rate (EU)
(13:30) Continuing Claims (US)
(13:30) Initial Jobless Claims (US)
(13:30) Consumer Price Index (US)
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.