10th Mar 2022. 7.44am
Morning Report – Thursday 10th March
FTSE to open at 7,163 (-28 pts)
Stocks on Wall Street rallied yesterday as some commodity prices eased…
Brent crude dropped more than 12% yesterday as the market weighed whether major producers would boost supply to help plug the gap in output from Russia.
Asian stocks have tracked the gains on Wall Street, Chinese blue chips jumped 1.73% and Japan’s Nikkei 225 has rallied nearly 4% from its 12-month lows.
Looking ahead today, alongside developments in Ukraine, the market will also be focused on this afternoon’s ECB rate decision and US inflation reading.
|S&P 500||+2.57%||Bullish for UK stocks|
|Hang Seng||+0.53%||Bullish for UK stocks|
|Gold||-0.59%||Bullish for UK stocks|
|AUD/JPY||+0.40%||Bullish for UK stocks|
|US 10yr Yield||+75pts||Bearish for UK stocks|
The FTSE’s rally from support continued to gather momentum yesterday – taking prices back to the broken support area at 7,200.
We’ll be watching closely to see if broken support at 7,200 will become resistance, or whether the market can push higher towards the descending trendline.
|Hill & Smith (HILS)|
|Balfour Beatty (BBY)|
|National Express (NEX)|
|Just Group (JUST)|
|Secure Income Reit (SIR)|
|Volution Group PLS (FAN)|
|UK Economic Announcements|
|(00:01) RICS Housing Market Survey|
|(07:00) Industrial Production|
|(07:00) Manufacturing Production|
|(07:00) Balance of Trade|
|(07:00) Gross Domestic Product|
|(07:00) Index of Services|
|International Economic Announcements|
|(12:45) ECB Interest Rate (EU)|
|(13:30) Continuing Claims (US)|
|(13:30) Initial Jobless Claims (US)|
|(13:30) Consumer Price Index (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.