16th Feb 2021. 7.47am
Regency View:
Morning Report – Tuesday 16th February
FTSE 100 set to open 22 points higher at 6,778
After yesterday’s bull run higher, the FTSE futures, and our risk barometer (below) indicate that European equities are in for another strong open.
Asian shares continued their strong run overnight, with the Hang Seng actually gapping and holding above its January highs.
As mentioned in yesterday’s Morning Report, the global equity rally is being fueled by progress made in the global vaccine rollout and anticipation of a large fiscal stimulus package in the US.
| S&P 500 | +0.47% | Bullish for UK stocks |
| Hang Seng | +1.78% | Bullish for UK stocks |
| Gold | +0.15% | Bearish for UK stocks |
| AUD/JPY | +0.16% | Bullish for UK stocks |
| US 10yr Yield | +1.37% | Bullish for UK stocks |
The FTSE rallied consistently higher throughout yesterday’s session, forming what’s known as a ‘trend day’.
This trend day wasn’t a huge surprise given the FTSE had spent the start of the month trapped in a tight range.
Whilst the market now has the January swing highs at 6,959 in its sights, probabilities suggest that after such an strong trend day, we are likely to see some form of consolidation or pause, and it is worth keeping this in mind if your trading the index today.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Glencore (GLEN) |
| Kerry (KYGA) |
| Mmc Norilsk Adr (MNOD) |
| Interim Results |
| BHP Group (BHP) |
| Blan Tech Grp (BLTG) |
| Pan African (PAF) |
| Petra Diamonds (PDL) |
| Trading Announcements |
| Marstons (MARS) |
| Safestore (SAFE) |
| International Economic Announcements |
| (09:00) ZEW Survey (GER) – Current Situation |
| (09:00) ZEW Survey (GER) – Economic Sentiment |
| (09:00) ZEW Survey (EU) – Economic Sentiment |
Don’t have a Regency account yet?
Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.
Create AccountAny Questions? Please feel free to call 0203 973 8007 or email us at info@regency.capital
Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.