17th May 2021. 7.41am
Morning Report – Monday 17th May
FTSE to open at 7,038 (-6 pts)
A mixed bag of Chinese economic data has seen European futures retreat from Friday’s highs…
Chinese retail sales rose 17.7% in April (year-on-year), below analyst estimates of 24.9%, while industrial production numbers matched expectations with a rise of 9.8%.
Our risk barometer is also painting a mixed picture, with a strong finish to last week from US stocks offset by gold hitting new highs for the month, indicating that risk aversion is increasing.
|S&P 500||+1.49%||Bullish for UK stocks|
|Hang Seng||+0.58%||Bullish for UK stocks|
|Gold||+0.59%||Bearish for UK stocks|
|AUD/JPY||-0.36%||Bearish for UK stocks|
|US 10yr Yield||-2.06%||Bullish for UK stocks|
On Friday, the FTSE rallied strongly from Thursday’s bullish hammer candle, erasing over half the index’s losses for the week.
Should the market hold near Friday’s highs during the opening rotation, we could well see the market make a run for last week’s swing highs.
|Hollywood Bwl (BOWL)|
|Fondul Proprietatea (FP.)|
|Acron Regs (AKRN)|
|International Economic Announcements|
|(07:00) Wholesale Price Index (GER)|
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This research is prepared for general information only and should not be construed as any form of investment advice.