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29th Jun 2022. 7.47am

Regency View:

Morning Report – Wednesday 29th June

FTSE to open at 7,258 (-65 pts)

US stocks were in retreat yesterday with tech stocks leading the losses as a report from the Conference Board showed consumer confidence continued to slump.

Overnight in Asia we’ve seen a continuation of the yesterday’s sell-off on Wall Street with stocks in Hong Kong and Japan declining.

Looking ahead, we have a busy day of economic data with European consumer confidence numbers this morning followed by US GDP at lunchtime.

S&P 500-2.01%Bearish for UK stocks
Hang Seng-2.23%Bearish for UK stocks
Gold-0.20%Neutral for UK stocks
AUD/JPY-0.49%Bearish for UK stocks
US 10yr Yield-29ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE make early gains only to retreat during the last hour of cash market trading – forming a bearish pin-bar candle.

Whilst this pin-bar candle is not rejecting a key resistance level and therefore not hugely significant, it does signal that the recent bullish momentum we’ve seen in starting to wane.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Moonpig Gr (MOON)
Mulberry Group (MUL)
Latham Timber (LTHM)
International Economic Announcements
(09:00) European Business Climate (Jun)
(09:00) European Consumer Confidence(Jun)
(12:00) German Harmonized Index of Consumer Prices (YoY)(Jun) PREL
(12:30) US Gross Domestic Product Annualized(Q1)
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.