22nd Oct 2021. 7.43am
Regency View:
Morning Report – Friday 22nd October
FTSE to open at 7,209 (+19 pts)
With all-time highs in its sights, the S&P’s recovery rally has started to stall…
The US benchmark printed its smallest daily range in over seven sessions.
At the stock level, the theme of this week has been large consumer-facing businesses passing higher input prices on to customers – raising further questions about the impact of prolonged inflation…
Proctor & Gamble, Nestle and Unilever have have all said they have raised prices in response to higher input prices.
Overnight in Asia, Chinese property stocks rallied following a surprise interest payment from debt-ridden developer China Evergrande.
| S&P 500 | -1.13% | Bearish for UK stocks |
| Hang Seng | -1.10% | Bearish for UK stocks |
| Gold | +0.54% | Bearish for UK stocks |
| AUD/JPY | -0.18% | Neutral for UK stocks |
| US 10yr Yield | +73pts | Bearish for UK stocks |
Yesterday’s price action saw the FTSE find support at Monday’s lows – the bottom of the inside day formation which we highlighted earlier in the week.
The futures have bounced back into the mini-range overnight and we’re set for another test of resistance as we head towards the weekend.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Thungela Res (TGA) |
| Mti Wireless (MWE) |
| UK Economic Announcements |
| (00:01) RICS Housing Market Survey |
| International Economic Announcements |
| (07:00) Wholesale Price Index (GER) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.