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18th Mar 2022. 7.43am

Regency View:

Morning Report – Friday 18th March

FTSE to open at 7,397 (-12 pts)

The BoE’s monetary policy committee voted eight to one to raise interest rates by 0.25 percentage points to 0.75% yesterday. The Central Bank also and predicted that inflation would top 8% by the end of June.

Wall Street’s broad-based S&P 500 index had its best close in roughly a month, ending the day 1.2% higher, after gaining more than 2% on Wednesday.

While oil prices rose more than 8%, continuing a series of wild daily swings, as the market rebounded from several days of losses. And overnight in Asia, Chinese stocks have had a small retracement following two days of strong gains.

S&P 500+1.23%Bullish for UK stocks
Hang Seng-0.47%Bearish for UK stocks
Gold-0.38%Bullish for UK stocks
AUD/JPY+0.48%Bullish for UK stocks
US 10yr Yield-15ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

As mentioned in yesterday’s Morning Report that the FTSE could be on for a retest of the descending trendline and that’s exactly what we got…

The cash market is now set to open just above the descending trendline, and we could see some profit taking into the weekend.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
ContourGlobal (GLO)
Eurocell (ECEL)
S4 Cap. (SFOR)
Zhejiang Exp’h’ (ZHEH)
Interim Results
Wetherspoon (J.D) (JDW)
Trading Announcements
Investec (INVP)
International Economic Announcements
(15:00) Existing Home Sales (US)
(10:00) Balance of Trade (EU)
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.