12th Aug 2021. 7.32am
Morning Report – Thursday 12th August
FTSE to open at 7,192 (-28 pts)
The S&P 500 notched up another record close yesterday as the market edged higher following slightly stronger-than-expected US inflation data.
Overnight, Asian stocks pulled back due to fears about the spread of the Delta variant and a relatively low vaccination rate – heightening the risk of further lockdowns in the region.
This morning’s UK GDP figures revealed the UK economy grew 4.8% in the second quarter – just below the Bank of England’s 5% prediction.
|S&P 500||+0.25%||Bullish for UK stocks|
|Hang Seng||-0.51%||Bearish for UK stocks|
|Gold||-0.02%||Neutral for UK stocks|
|AUD/JPY||-0.17%||Bearish for UK stocks|
|US 10yr Yield||-1.33%||Bearish for UK stocks|
The FTSE powered its way up into the June highs during yesterday’s session, but with the market going ex-dividend today the futures have fallen back below this key resistance level.
We’ll be monitoring price action very closely over the coming sessions to see if a breakout can be maintained.
|Arix Bioscience (ARIX)|
|Arrow Global (ARW)|
|Coca-Cola HBC (CCH)|
|Empresaria Group (EMR)|
|Ocean Wilsons (OCN)|
|Silence Ther. (SLN)|
|Tribal Grp. (TRB)|
|Wheaton Prec. (WPM)|
|UK Economic Announcements|
|(00:01) RICS Housing Market Survey|
|(07:00) Industrial Production|
|(07:00) Gross Domestic Product|
|(07:00) GDP (Preliminary)|
|(07:00) Index of Services|
|(07:00) Balance of Trade|
|(07:00) Manufacturing Production|
|International Economic Announcements|
|(10:00) Industrial Production (EU)|
|(12:30) Producer Price Index (US)|
|(13:30) Producer Price Index (US)|
|(13:30) Continuing Claims (US)|
|(13:30) Initial Jobless Claims (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.