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11th May 2022. 7.45am

Regency View:

Morning Report – Wednesday 11th May

FTSE to open at 7,296 (+53 pts)

US stocks took a small pause yesterday after suffering heavy losses earlier this week…

Having closed -3.2% lower on Monday, the S&P 500 swung between gains and losses, but was 0.25% higher by late afternoon.

Overnight in Asia, stocks have rallied from near two-year lows, while the US dollar held steady, ahead of this afternoon’s US inflation data that will offer a guide to how aggressively the Fed will hike rates.

S&P 500+0.25%Bullish for UK stocks
Hang Seng+1.40%Bullish for UK stocks
Gold+0.33%Bearish for UK stocks
AUD/JPY+0.35%Bullish for UK stocks
US 10yr Yield-46ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE break lower and then rally back to close in positive territory – forming a small bullish reversal candle.

However, the size and significance of yesterday’s candle is dwarfed by the strong sell-off from the preceding three candles.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Anexo Group Plc (ANX)
Mirriad Advert. (MIRI)
Angling Direct (ANG)
Vertu Motors (VTU)
Interim Results
Compass Group (CPG)
Brewin Dolphin (BRW)
Ten Life (TENG)
Trading Announcements
Renishaw (RSW)
Spirax-Sarco (SPX)
International Economic Announcements
(06:00) Harmonized Index of Consumer Prices (YoY)(Apr) (GER)
(08:00) ECB’s President Lagarde speech (EUR)
(12:30) Consumer Price Index ex Food & Energy (YoY)(Apr) (US)
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.