11th Apr 2022. 7.46am
Morning Report – Monday 11th April
FTSE to open at 7,643 (-27 pts)
Stocks in Hong Kong have fallen almost -3% overnight as a wave of Covid-19 lockdowns across China continue to exacerbate the ‘supply chain squeeze’…
Chinese electric car maker Nio fell as much as -14% after saying that suppliers in Shanghai and neighbouring provinces suspended production “one after the other” and that it would postpone deliveries.
Looking ahead this week, US banking earnings will take center stage with the likes of JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanely all reporting Q1 numbers.
|S&P 500||-0.27%||Bearish for UK stocks|
|Hang Seng||-2.93%||Bearish for UK stocks|
|Gold||-0.28%||Bullish for UK stocks|
|AUD/JPY||+0.54%||Bullish for UK stocks|
|US 10yr Yield||+42pts||Bearish for UK stocks|
The FTSE has pressed up into the resistance zone created by the February swing highs…
This morning’s price action on the futures has seen the market reject resistance and we’ll be watching the cash market closely for signs that resistance is taking hold.
|UK Economic Announcements|
|(07:00) Gross Domestic Product|
|(07:00) Manufacturing Production|
|(07:00) Balance of Trade|
|(07:00) Index of Services|
|(07:00) Industrial Production|
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This research is prepared for general information only and should not be construed as any form of investment advice.