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 | -46pts | Bullish for UK stocks |
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
| 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) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.