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12th May 2021. 7.45am

Regency View:

Morning Report – Wednesday 12th May

FTSE to open at 6,929 (-19 pts)

It’s been a quiet Asian session, as markets tread water ahead of today’s US inflation data (see calendar below).

As can be seen from our risk barometer (below), the S&P continued its recent weakness, while other asset classes are in neutral territory as we head into European trading.

S&P 500-0.87%Bearish for UK stocks
Hang Seng+0.17%Neutral for UK stocks
Gold-0.23%Neutral for UK stocks
AUD/JPY-0.26%Neutral for UK stocks
US 10yr Yield-0.44%Neutral for UK stocks
Regency Risk Barometer Snapshot

The FTSE found support at last week’s swing lows – a level which coincides with the ascending trendline.

Given the strength of yesterday’s sell-off, probabilities are not in favour of swift bounce-back. Instead, we would expect to see some sideways consolidation near the trendline and the April swing lows at 6,850.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Investec (INVP)
Mears (MER)
Vertu Motors (VTU)
Interim Results
Compass Group (CPG)
Sage Group (SGE)
Q1 Results
Ote Ads (OTES)
Trading Announcements
Coca-Cola HBC (CCH)
UK Economic Announcements
(07:00) GDP (Preliminary)
(07:00) Industrial Production
(07:00) Index of Services
(07:00) Manufacturing Production
(07:00) Balance of Trade
(07:00) Gross Domestic Product
International Economic Announcements
(07:00) Consumer Price Index (GER)
(10:00) Industrial Production (EU)
(11:30) Consumer Price Index ex Food & Energy MoM (US)
(11:30) Consumer Price Index ex Food & Energy YoY (US)
(12:00) MBA Mortgage Applications (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.