25th Mar 2022. 7.44am
Morning Report – Friday 25th March
FTSE to open at 7,460 (-7 pts)
Stocks on Wall Street rallied yesterday with tech stocks leading the way and the tech-focused Nasdaq composite index closing nearly 2% higher.
While yesterday’s comments from the G7 indicated that they are looking to crack down on Russia’s ability to circumvent its sanctions to sell its gold reserves.
Overnight in Asia, Hong Kong’s Hang Seng index has been dragged lower by losses in Chinese tech stocks.
|S&P 500||+1.43%||Bullish for UK stocks|
|Hang Seng||-2.67%||Bearish for UK stocks|
|Gold||-0.19%||Neutral for UK stocks|
|AUD/JPY||-0.53%||Bearish for UK stocks|
|US 10yr Yield||+78pts||Bearish for UK stocks|
Yesterday’s price action saw the FTSE tick higher within Wednesday’s range – forming an ‘inside day’.
Wednesday’s range now becomes significant to the short-term directional bias of the market.
|Faron Pharma (FARN)|
|UK Economic Announcements|
|(00:01) GFK Consumer Confidence|
|(07:00) Retail Sales|
|International Economic Announcements|
|(09:00) M3 Money Supply (EU)|
|(09:00) IFO Business Climate (GER)|
|(09:00) IFO Expectations (GER)|
|(09:00) IFO Current Assessment (GER)|
|(14:00) U. of Michigan Confidence (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.