13th Jul 2022. 7.45am
Morning Report – Wednesday 13th July
FTSE to open at 7,189 (-21 pts)
Stocks on Wall Street continued their weak start to the week as traders grew nervous ahead of today’s US inflation data.
While Asian stocks have had a quiet session with the Hang Seng and Nikkei 225 treading water.
This morning’s UK GDP numbers beat expectations – growing 0.5% in May after a contraction in April. The growth was broad based with services, industrial production and manufacturing all growing more than economists had expected.
|S&P 500||-0.92%||Bearish for UK stocks|
|Hang Seng||-0.29%||Bearish for UK stocks|
|Gold||-0.17%||Neutral for UK stocks|
|AUD/JPY||+0.19%||Neutral for UK stocks|
|US 10yr Yield||-27pts||Bullish for UK stocks|
Yesterday’s price action formed a small indecisive candle near the top of the wedge pattern which has been taking shape during the last month.
|Ilika Plc (IKA)|
|Loungers Plc (LGRS)|
|Novolip Regs (NLMK)|
|UK Economic Announcements|
|(07:00) Industrial Production|
|(07:00) Gross Domestic Product|
|International Economic Announcements|
|(07:00) Consumer Price Index (GER)|
|(10:00) Industrial Production (EU)|
|(12:00) MBA Mortgage Applications (US)|
|(13:30) Consumer Price Index (US)|
|(15:30) Crude Oil Inventories (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.