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12th May 2022. 7.43am

Regency View:

Morning Report – Thursday 12th May

FTSE to open at 7,229 (-119 pts)

Yesterday’s stubbornly high US inflation data prompted a further sell-off in US stocks…

Headline US consumer prices rose 8.3% for the 12 months to April, slower than the 8.5% pace of a month earlier, but higher than market forecasts for 8.1% – prompting a -1.65% drop in the S&P 500.

Overnight, Asian stocks have mirrored the losses on Wall Street with the Hang Seng down more than -2% and the Nikkei 225 currently -1.77%.

This morning’s UK GDP number saw the UK economy shrink for the first time this year – output declined 0.1% from February compared with a forecast for no change.

S&P 500-1.65%Bearish for UK stocks
Hang Seng-2.09%Bearish for UK stocks
Gold-0.05%Neutral for UK stocks
AUD/JPY-1.06%Bearish for UK stocks
US 10yr Yield-67ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE futures close well-below the cash market close – forming a bearish ‘pin-bar’ candle.

This pattern signals that we could see some downside continuation during today’s session.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Grainger plc (GRI)
Titon (TON)
Trading Announcements
Balfour Beatty (BBY)
Interim Management Statement
Hargreaves Lansdown (HL.)
UK Economic Announcements
(06:00) Gross Domestic Product (QoQ)(Q1) PREL
International Economic Announcements
(12:30) Initial Jobless Claims 4-week average (May 6) (US)
(12:30) Producer Price Index ex Food & Energy (YoY)(Apr) (US)
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.