23rd Mar 2022. 7.42am
Morning Report – Wednesday 23rd March
FTSE to open at 7,493 (+16 pts)
Asian equities hit three week highs overnight with beaten-down sectors such as technology making the biggest gains.
While this morning’s UK inflation data hit a new 30-year high, with consumer prices rising by 6.2% in the 12 months to February – as fuel, energy and food costs surged.
The data comes ahead of Chancellor Rishi Sunak’s Spring Statement in which he is expected to cut fuel duty, boost benefits and raise the threshold for national insurance.
|S&P 500||+1.13%||Bullish for UK stocks|
|Hang Seng||+1.36%||Bullish for UK stocks|
|Gold||-0.09%||Neutral for UK stocks|
|AUD/JPY||+0.08%||Neutral for UK stocks|
|US 10yr Yield||+91pts||Bearish for UK stocks|
The FTSE has continued its steady climb higher although volatility is starting to reduce considerably…
The market printed its second consecutive narrowest range in over seven sessions – indicating that the market is starting to ‘coil’ ahead of another ‘momentum move’.
|Henry Boot (BOOT)|
|Judges Scientfc (JDG)|
|Krm22 Plc (KRM)|
|Surgical Innovations (SUN)|
|UK Economic Announcements|
|(07:00) Consumer Price Index (YoY)(Feb)|
|(12:00) Chancellor Rishi Sunak Spring Budget|
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This research is prepared for general information only and should not be construed as any form of investment advice.