17th Dec 2021. 7.29am
Morning Report – Friday 17th December
FTSE to open at 7,244 (-16 pts)
The Bank of England raised interest rates from 0.1% to 0.25%, its first increase in more than three years…
“We’ve seen evidence of a very tight labour market and we’re seeing more persistent inflation pressures,” said Andrew Bailey, BoE governor, after the MPC meeting. “We’re concerned about inflation in the medium term” he added.
UK stocks seemed to shrug off the rate rise and hawkish comments, US stocks on the other hand put in a bearish reversal from highs.
|S&P 500||-0.87%||Bearish for UK stocks|
|Hang Seng||-1.19%||Bearish for UK stocks|
|Gold||+0.47%||Bearish for UK stocks|
|AUD/JPY||-0.28%||Bearish for UK stocks|
|US 10yr Yield||-3.36%||Bullish for UK stocks|
The FTSE futures gave up some gains as Wall Street weakened into the New York closing bell yesterday.
We’re set to open back at the support zone, and the market needs to finish the week above it in order to maintain its bullish price structure.
|UK Economic Announcements|
|07:00 Retail sales (Nov)|
|International Economic Announcements|
|10:00 European Consumer Price Index (Nov)|
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This research is prepared for general information only and should not be construed as any form of investment advice.