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1st Mar 2021. 7.42am

Regency View:

Morning Report – Monday 1st March

FTSE to open at 6,535 (+52 pts)

The battered bond market has stabilised during the last two sessions, and this has been welcomed by equity markets.

Asian equities have had a modestly bullish session overnight on a backdrop of mixed economic data – China’s manufacturing PMI missed forecasts, but Japanese figures showed the fastest growth in two years.

With UK, EU and US manufacturing PMI’s to be released later today (see calendar below), it’s likely to be volatile start to the month.

S&P 500-0.48%Bearish for UK stocks
Hang Seng+1.52%Bullish for UK stocks
Gold+1.23%Bearish for UK stocks
AUD/JPY+0.89%Neutral for UK stocks
US 10yr Yield-0.96%Neutral for UK stocks
Regency Risk Barometer Snapshot

The FTSE rolling futures (below) broke and closed below 6,570 support on Friday.

Friday’s break actually saw the market test the next level of support at 6,480 – and we’re bouncing from that level this morning.

If the broken support level at 6,570 is re-tested during today’s session, we’d expect it to provide resistance moving forward.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Afc Energy (AFC)
Aggreko (AGK)
Greencoat Rene. (GRP)
Mti Wireless (MWE)
Quartix Hlds (QTX)
Seplat Petrol. (SEPL)
Interim Results
Craneware (CRW)
UK Economic Announcements
(09:30) M4 Money Supply
(09:30) PMI Manufacturing
(09:30) Mortgage Approvals
(09:30) Consumer Credit
International Economic Announcements
(08:55) PMI Manufacturing (GER)
(09:00) PMI Manufacturing (EU)
(14:45) PMI Manufacturing (US)
(15:00) ISM Manufacturing (US)
(15:00) Construction Spending (US)
(15:00) ISM Prices Paid (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.