4th May 2021. 7.47am
Morning Report – Tuesday 4th May
FTSE to open at 6,992 (+22 pts)
US and European shares made modest gains yesterday as traders weighed a number of economic surveys pointing to robust growth in the US and eurozone factory sectors.
Asian stocks have also had a mildly bullish session, with Hong Kong’s Hang Seng putting in a small bounce after last week’s sell-off.
Key economic data this week includes the Bank of England’s rate decision and policy statement on Thursday, and US non-farm payrolls on Friday.
|S&P 500||+0.27%||Neutral for UK stocks|
|Hang Seng||+0.67%||Bullish for UK stocks|
|Gold||-0.39%||Neutral for UK stocks|
|AUD/JPY||+0.07%||Neutral for UK stocks|
|US 10yr Yield||+0.89%||Neutral for UK stocks|
For the last eight sessions we’ve seen the FTSE edge higher within a series of tight trading ranges.
With prices now approaching the April swing highs, we would expect to see volatility increase as the market battles to break resistance.
|Frenkel Topping (FEN)|
|UK Economic Announcements|
|(09:30) Mortgage Approvals|
|(09:30) PMI Manufacturing|
|(09:30) M4 Money Supply|
|(09:30) Consumer Credit|
|International Economic Announcements|
|(15:00) Factory Orders (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.