4th May 2021. 7.47am
Regency View:
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.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Camellia (CAM) |
| Frenkel Topping (FEN) |
| Microsaic (MSYS) |
| 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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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.