14th Mar 2022. 7.45am
Morning Report – Monday 14th March
FTSE to open at 7,201 (+45 pts)
The Hang Seng has plunged more than -5% overnight as China experiences its largest wave of Covid-19 since the end of March 2020…
Chinese tech giants Tencent (-4.51%), Alibaba (-7.82%) and Meituan (-11.23%) all took a battering with Hong Kong’s blue chip index hitting levels not seen since 2016.
While European stock futures have been boosted by hopes that Ukraine-Russia talks scheduled for today, may be more productive.
Looking ahead this week, we have the Federal Open Market Committee meeting on Wednesday, followed by the Bank of England’s monetary policy committee vote on Thursday.
|S&P 500||-1.30%||Bearish for UK stocks|
|Hang Seng||-5.32%||Bearish for UK stocks|
|Gold||-0.72%||Bullish for UK stocks|
|AUD/JPY||-0.19%||Neutral for UK stocks|
|US 10yr Yield||+4pts||Neutral for UK stocks|
Friday’s price action saw the market continue to respond to the broken support turned resistance area at 7,200.
The futures have pushed up into Friday’s highs and the cash market is set to open at resistance.
|Stelrad Grp (SRAD)|
|Phoenix Group Holdings (PHNX)|
|Fonix Mob. (FNX)|
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 Account
This research is prepared for general information only and should not be construed as any form of investment advice.