19th May 2021. 7.48am
Regency View:
Morning Report – Wednesday 19th May
FTSE to open at 6,988 (-46 pts)
US stocks retreated yesterday as inflation fears dampened bullish sentiment and gold edging higher.
While Hong Kong’s Hang Seng index is closed for National Day, Japans Nikkei 225 lost 1.1%, and China’s mainland CSI300 index slipped 0.6%.
| S&P 500 | -0.85% | Bearish for UK stocks |
| Hang Seng | Closed | Neutral for UK stocks |
| Gold | +0.15% | Neutral for UK stocks |
| AUD/JPY | +0.04% | Neutral for UK stocks |
| US 10yr Yield | -0.81% | Neutral for UK stocks |
Yesterday’s price action saw the FTSE sell-off from open to close, trending lower throughout the session and into US trading hours.
This bearish ‘trend day’ has left the market in limbo, mid-range between key support and resistance. Given the persistence of yesterday’s selling, short-term momentum is favouring the bears today.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Experian (EXPN) |
| Great Portland (GPOR) |
| Jz Capital (JZCP) |
| Lxi Reit (LXI) |
| Ninety One Plc (N91) |
| Premier Foods (PFD) |
| Interim Results |
| Future (FUTR) |
| Mitchells & Butlers (MAB) |
| Q1 Results |
| Mhp Reg S (MHPC) |
| Trading Announcements |
| Regional Reit (RGL) |
| UK Economic Announcements |
| (07:00) Producer Price Index |
| (07:00) Retail Price Index |
| (07:00) Consumer Price Index |
| International Economic Announcements |
| (10:00) Consumer Price Index (EU) |
| (12:00) MBA Mortgage Applications (US) |
| (15:30) Crude Oil Inventories (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.