12th Sep 2022. 7.45am
Regency View:
Morning Report – Monday 12th September
FTSE to open at 7,384 (+33 pts)
This morning’s UK GDP data indicated the economy stagnated in the three months to July…
UK output was flat in the three months to July compared to the previous three months, according to data from the Office for National Statistics – economists had predicted a 0.1% expansion.
Overnight in Asia, stocks have pushed higher on the back of bumper semiconductor sales in Taiwan.
Looking ahead this week, we have inflation data from the US and property sector data from China.
And on the domestic front, we have UK inflation figures, labour data and retail sales.
The Bank of England’s Monetary Policy Committee has postponed its monthly rate-setting meeting as a mark of respect after the Queen’s death.
S&P 500 | +1.53% | Bullish for UK stocks |
Hang Seng | +2.69% | Bullish for UK stocks |
Gold | -0.14% | Neutral for UK stocks |
AUD/JPY | +0.68% | Bullish for UK stocks |
US 10yr Yield | -13pts | Neutral for UK stocks |
Friday’s price action saw the FTSE break higher and end the week in bullish fashion.
This burst of momentum could see the market head higher to retest the top of the long-term wedge pattern (converging gold dotted lines).
Final Results |
Tirupati Graph. (TGR) |
Made Tech (MTEC) |
Arcontech Group (ARC) |
Interim Results |
Sigmaroc (SRC) |
Greencoat Rene. (GRP) |
M.p. Evans (MPE) |
Abcam (ABC) |
Kape Tech. (KAPE) |
Adriatic Metal. (ADT1) |
Trading Announcements |
AB Foods (ABF) |
UK Economic Announcements |
(07:00) Balance of Trade |
(07:00) Industrial Production |
(07:00) Gross Domestic Product |
(07:00) Index of Services |
(07:00) Manufacturing Production |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.