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12th Nov 2021. 7.39am

Regency View:

Morning Report – Friday 12th November

FTSE to open at 7,367 (-17 pts)

Stocks on Wall Street tread water yesterday, consolidating within Wednesday’s range as traders continue to digest this week’s surprisingly strong US inflation data.

While borrowing costs in the international junk bond market soared to a decade high as traders continue to price-in the impact of defaults from Chinese property developers.

S&P 500+0.06%Neutral for UK stocks
Hang Seng+0.37%Bullish for UK stocks
Gold-0.18%Neutral for UK stocks
AUD/JPY+0.28%Bullish for UK stocks
US 10yr Yield+2.52%Bearish for UK stocks
Regency Risk Barometer Snapshot

We mentioned in yesterday’s Morning Report that a break above the inside day pattern would likely trigger a strong rally and this played out in text-book fashion…

After clearing Friday’s bonfire night highs, the market took off like a rocket, breaking through a pre-pandemic resistance level that we had highlighted in previous video analysis.

The futures have undergone a small pullback prior to the opening bell.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Castings (CGS)
Intosol Holdin. (INTO)
Q3 Results
Astrazeneca (AZN)
Cablevision Ho. (CVH)
Ote Ads (OTES)
Electrica Regs (ELSA)
Romgaz S (SNGR)
International Economic Announcements
(10:00) Industrial Production (EU)
(15:00) U. of Michigan Confidence (Prelim) (US)
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.