11th May 2021. 7.45am
Regency View:
Morning Report – Tuesday 11th May
FTSE to open at 7,038 (-86 pts)
A strong sell-off during the later half of US trading saw the S&P fall back towards last week’s lows yesterday, and the bearish sentiment has continued into Asia trading.
It’s being widely reported that the sell-off is being driven by inflationary fears, heightened by the upcoming release of Wednesday’s US consumer price index report.
| S&P 500 | -1.04% | Bearish for UK stocks |
| Hang Seng | -1.77% | Bearish for UK stocks |
| Gold | -0.01% | Neutral for UK stocks |
| AUD/JPY | +0.16% | Neutral for UK stocks |
| US 10yr Yield | +0.01% | Neutral for UK stocks |
The FTSE failed to continue its breakout move in some style yesterday, closing back below Friday’s lows and forming a bearish engulfing.
Overnight, we’ve seen the futures continue to sell-off, taking prices back to the broken swing highs – an area that may potentially provide some support.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Air Partner (AIR) |
| Angling Direct (ANG) |
| Interim Results |
| Treatt (TET) |
| Zytronic (ZYT) |
| Q1 Results |
| Arrow Global (ARW) |
| Trading Announcements |
| WM Morrison (MRW) |
| UK Economic Announcements |
| (00:01) Retail Sales |
| International Economic Announcements |
| (10:00) ZEW Survey (GER) – Current Situation |
| (10:00) ZEW Survey (EU) – Economic Sentiment |
| (10:00) ZEW Survey (GER) – Economic Sentiment |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.