30th Sep 2021. 7.47am
Morning Report – Thursday 30th September
FTSE to open at 7,146 (+42 pts)
Stocks on Wall Street failed to to mount much of a fightback yesterday with the S&P edging higher after it worst day since May on Tuesday.
Overnight in Asia, it’s been a quiet session with the Hang Seng and Nikkei 225 moving less than 0.5% on the day.
This morning’s UK GDP data came in ahead of expectations with the UK economy growing 5.5% in Q2 after being revised up from the previous estimation of 4.8%.
|S&P 500||+0.16%||Neutral for UK stocks|
|Hang Seng||-0.18%||Neutral for UK stocks|
|Gold||+0.14%||Neutral for UK stocks|
|AUD/JPY||+0.41%||Bullish for UK stocks|
|US 10yr Yield||-1.21%||Bullish for UK stocks|
Yesterday’s price action saw the FTSE rally from Tuesday’s lows and close above Tuesday’s highs – forming a bullish engulfing pattern.
We’ve already seen some upside follow-through from the FTSE futures overnight and we are looking for this to be maintained during the opening rotation.
|Andrew Sykes (ASY)|
|Ceres Power (CWR)|
|Jade Road Inv (JADE)|
|Mycelx Di (MYX)|
|OptiBiotix Health (OPTI)|
|UK Economic Announcements|
|(07:00) Current Account|
|(07:00) Gross Domestic Product|
|(07:00) Nationwide House Price Index|
|International Economic Announcements|
|(08:55) Unemployment Rate (GER)|
|(10:00) Unemployment Rate (EU)|
|(13:30) Initial Jobless Claims (US)|
|(13:30) Personal Consumption Expenditures (US)|
|(13:30) Gross Domestic Product (US)|
|(13:30) Continuing Claims (US)|
|(14:45) Chicago PMI (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.