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8th Jun 2022. 7.44am

Regency View:

Morning Report – Wednesday 8th June

FTSE to open at 7,624 (+25 pts)

Wall Street rallied in afternoon trading yesterday lead by gains in Apple and other tech stocks, while Target Corp’s disappointing margin forecast weighed on retail shares.

The bullish sentiment on Wall Street has followed through into Asian trading with the Hang Seng breaking to a two-month high.

However, the World Bank has slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that the Ukraine war has compounded the damage from the pandemic, and many countries now faced recession.

S&P 500+0.95%Bearish for UK stocks
Hang Seng+2.12%Bullish for UK stocks
Gold-0.17%Neutral for UK stocks
AUD/JPY+0.08%Neutral for UK stocks
US 10yr Yield-70ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE consolidate within Monday’s range – forming an ‘inside day’ pattern (blue box on chart below).

We’ll be monitoring closely how prices respond to the range of the inside day as a break above or below could trigger a directional move.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Workspace (WKP)
Wizz Air (WIZZ)
Interim Results
Paragon Group (PAG)
International Economic Announcements
(09:00) European Gross Domestic Product (YoY)(Q1) (EUR)
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.