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25th Apr 2022. 7.46am

Regency View:

Morning Report – Monday 25th April

FTSE to open at 7,403 (-119 pts)

French incumbent president Emmanuel Macron is to be re-elected for a second term after defeating his far-right rival Marine Le Pen in Sunday’s run-off – the markets ‘priced-in’ this win on Friday with the euro rallying 95pts against the pound.

While Asian trading has seen stocks mirror Friday’s heavy losses on Wall Street, caused by the anticipation of aggressive monetary tightening from the Fed.

Looking ahead this week, we have another raft of inflation numbers, this time from eurozone countries. We also have GDP estimates from the US, Korea, Germany and eurozone, along with an interest rate decision from the Bank of Japan.

S&P 500-2.77%Bearish for UK stocks
Hang Seng-3.50%Bearish for UK stocks
Gold-0.90%Bullish for UK stocks
AUD/JPY-1.97%Bearish for UK stocks
US 10yr Yield-10ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

Friday’s price action saw the FTSE fail to hold onto its early gains and selling pressure accelerated into the closing bell – causing the index the slice through multiple levels of support.

The selling pressure have continued during the early hours, and the cash market is set to open below support (see chart).

Short-term momentum now firmly favours the bears.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Frenkel Topping (FEN)
Audioboom Grp. (BOOM)
Arecor Therape (AREC)
International Economic Announcements
(15:00) BoC’s Governor Macklem speech (CAD)
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.