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20th Apr 2022. 7.48am

Regency View:

Morning Report – Wednesday 20th April

FTSE to open at 7,623 (+22 pts)

Stocks on Wall Street rallied yesterday despite an 80 point surge in 10yr Treasury yields in anticipation of aggressive Fed tightening.

Overnight in Asia, stocks have been mixed with the Hang Seng in negative territory as Covid-19 lockdowns throughout mainland China continue to weigh on growth. While Japanese stocks hit a nine-day high – tracking the gains on Wall Street.

We have a raft of US corporate earnings hitting our screens today with the likes of Kinder Morgan (KMI), Procter & Gamble (PG) and Alcoa Corp (AA) reporting numbers.

S&P 500+1.61%Bullish for UK stocks
Hang Seng-0.62%Bearish for UK stocks
Gold-0.52%Bullish for UK stocks
AUD/JPY+0.42%Bullish for UK stocks
US 10yr Yield+80ptsBearish for UK stocks
Regency Risk Barometer Snapshot

We mentioned in yesterday’s Morning Report that the FTSE was in mid-range ‘coin toss’ territory for day traders, and this was underlined by yesterday’s price action which saw the market whipsaw sideways.

On a more bullish note, the market did close well off its intra-day lows – indicating the underlying strength in the market and it wouldn’t be too surprising to see the FTSE break above yesterday’s highs during today’s session.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Carrs Group (CARR)
Q1 Results
Centamin PLC (CEY)
Trading Announcements
Antofagasta (ANTO)
Rio Tinto (RIO)
Bunzl (BNZL)
International Economic Announcements
(07:00) Producer Price Index (GER)
(10:00) Industrial Production (EU)
(10:00) Balance of Trade (EU)
(12:00) MBA Mortgage Applications (US)
(15:00) Existing Home Sales (US)
(15:30) Crude Oil Inventories (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.