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18th May 2022. 7.47am

Regency View:

Morning Report – Wednesday 18th May

FTSE to open at 7,522 (+4 pts)

Wall Street rallied yesterday as traders moved back into riskier tech stocks – a sector which has been hit hard this year.

Overnight in Asia, the rally from earlier this week has cooled with Hong Kong’s Hang Seng index flat on the day.

While this morning’s UK inflation data came in slightly below expectations, with year-on-year CPI for April of 9% versus 9.1% expected.

UK inflation is now almost double the rate the Bank of England expected six months ago which indicates that the central bank will continue to hike rates.

S&P 500+2.02%Bullish for UK stocks
Hang Seng-0.08%Neutral for UK stocks
Gold-0.15%Neutral for UK stocks
AUD/JPY-0.18%Neutral for UK stocks
US 10yr Yield+107ptsBearish for UK stocks
Regency Risk Barometer Snapshot

The FTSE has continued to climb higher with the market now moving into the resistance zone created by the early-April broken support turned resistance level at 7,536 and the descending line created from the recent series of lower swing highs 7,560.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Experian (EXPN)
Burberry (BRBY)
British Land (BLND)
Ninety One Plc (N91)
Brown Group (BWNG)
Interim Results
Marstons (MARS)
UK Economic Announcements
(06:00) Consumer Price Index (YoY)(Apr)
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.