30th Mar 2022. 7.45am
Morning Report – Wednesday 30th March
FTSE to open at 7,532 (-5 pts)
Stocks on Wall Street rallied yesterday after a breakthrough in negotiations between Russia and Ukraine…
Ukraine proposed adopting a neutral status while Russia have promised to ‘scale down’ military operations around Kyiv – although this has been met with skepticism from the US, UK and Ukraine.
Asian shares have joined the global stock rally, with Chinese blue-chips listed in Hong Kong jumping nearly 2%.
|S&P 500||+1.23%||Bearish for UK stocks|
|Hang Seng||+1.92%||Bullish for UK stocks|
|Gold||+0.33%||Bearish for UK stocks|
|AUD/JPY||-0.62%||Bearish for UK stocks|
|US 10yr Yield||-62pts||Bullish for UK stocks|
The FTSE finally broke and closed above the inside day range which formed last week – taking the market up into short-term swing resistance at 7,568.
The bulls will be looking for the broken top of the inside day to provide support as the market continues its V-shaped recovery from lows of 6,766 reached earlier this month.
|Michelmersh Brick Holdings (MBH)|
|Strix Group (KETL)|
|Gulf Keystone Petroleum (GKP)|
|Team17 Group (TM17)|
|Equals Gp (EQLS)|
|UK Economic Announcements|
|(00:01) BRC Shop Price Index|
|(08:30) Mortgage Approvals|
|(08:30) M4 Money Supply|
|International Economic Announcements|
|(07:00) Import Price Index (GER)|
|(10:00) Consumer Confidence (EU)|
|(10:00) Business Climate Indicator (EU)|
|(12:00) MBA Mortgage Applications (US)|
|(13:30) Gross Domestic Product (US)|
|(15:30) Crude Oil Inventories (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.