19th Nov 2021. 7.30am
Morning Report – Friday 19th November
FTSE to open at 7,293 (+37 pts)
In what was a quiet session on Wall Street yesterday, the most notable movements came from emerging markets which fell for a second day on inflation and China fears…
The FTSE emerging index fell 0.9% yesterday, posting its biggest daily drop since October as Turkey lowered interest rates and risk aversion increased.
Overnight in Asia, Hong Kong’s Hang Seng index is down more that 1%, reflecting yesterday’s weakness in emerging markets.
While this morning’s UK retail sales numbers came in ahead of expectations, showing a 0.8% jump month-on-month and a -1.3% drop year-on-year.
|S&P 500||+0.34%||Bullish for UK stocks|
|Hang Seng||-1.22%||Bearish for UK stocks|
|Gold||+0.01%||Neutral for UK stocks|
|AUD/JPY||+0.24%||Bullish for UK stocks|
|US 10yr Yield||-0.05%||Neutral for UK stocks|
The FTSE is back within touching distance of the key support area created by the ascending trendline and the broken summer highs.
Click here for a deeper dive on the FTSE to discover which sectors are showing high levels of relative strength, and which have been under-performing during the recent pullback.
|Great Portland (GPOR)|
|NextEnergy Solar (NESF)|
|Seraphim Sp (SSIT)|
|SDX Energy (SDX)|
|UK Economic Announcements|
|(00:01) GFK Consumer Confidence|
|(07:00) Retail Sales|
|(09:30) Public Sector Net Borrowing|
|International Economic Announcements|
|(07:00) Producer Price Index (GER)|
|(09:00) Current Account (EU)|
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This research is prepared for general information only and should not be construed as any form of investment advice.