6th Sep 2022. 7.46am
Morning Report – Tuesday 6th September
FTSE to open at 7,270 (-17 pts)
With US stocks closed for Labor Day yesterday, all eyes were on Europe which saw the FTSE rally following the announcement of Liz Truss as our new PM while German stocks dropped due to the closure of the Nord Stream 1 pipeline.
Overnight in Asia, it’s been a relatively quiet session with the Hang Seng and Nikkei approximately flat on the day.
|S&P 500||Closed||Neutral for UK stocks|
|Hang Seng||-0.10%||Neutral for UK stocks|
|Gold||+0.46%||Bearish for UK stocks|
|AUD/JPY||+0.36%||Bullish for UK stocks|
|US 10yr Yield||+38pts||Bearish for UK stocks|
Yesterday’s price action saw the FTSE push steadily higher throughout the session – ending the day on Friday’s highs.
We’ll be watching to see if Friday’s high will provide some short-term resistance.
|Hargreaves Lansdown (HL.)|
|Accrol Gp (ACRL)|
|Alumasc Group (ALU)|
|Cairn Energy (CNE)|
|The Pebble Gro. (PEBB)|
|Michelmersh Brick Holdings (MBH)|
|Lords Grp Tr (LORD)|
|Gamma Coms (GAMA)|
|Starwood Eur (SWEF)|
|UK Economic Announcements|
|(09:30) PMI Construction|
|International Economic Announcements|
|(07:00) Factory Orders (GER)|
|(10:00) Retail Sales (EU)|
|(14:45) PMI Composite (US)|
|(14:45) PMI Services (US)|
|(15:00) ISM Prices Paid (US)|
|(15:00) ISM Services (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.