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22nd Feb 2021. 7.45am

Regency View:

Morning Report – Monday 22nd February

FTSE to open at 6,590 (-34 pts)

Asian stocks failed to maintain their early sessions gains and selling pressure has started to increase as we head into European trading.

Commodities have held up well overnight and this may be supportive for the FTSE. Whilst in the bond market, we are now seeing a narrative emerge which suggests bond yields have now reached a level which makes equities less attractive.

S&P 500-0.19%Bearish for UK stocks
Hang Seng-1.06%Bearish for UK stocks
Gold+0.36%Bearish for UK stocks
AUD/JPY+0.23%Bullish for UK stocks
US 10yr Yield+1.77%Bullish for UK stocks
Regency Risk Barometer Snapshot

Whilst the FTSE continues to hold just above the confluent support area we identified on Friday, we’re not as yet seeing any signs that the bulls have managed to change the current bearish momentum.

Should the FTSE break below 6,570 in early trading, a move down into the 6,480 would be a logical next step for the market.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Batm Advanced (BVC)
Rtc Grp. (RTC)
Interim Results
Dechra (DPH)
Finsbury Food (FIF)
Tristel (TSTL)
Trading announcements
AB Foods (ABF)
UK Economic Announcements
(09:30) Public Sector Net Borrowing
International Economic Announcements
(07:00) IFO Business Climate (GER)
(09:00) IFO Current Assessment (GER)
(09:00) IFO Expectations (GER)
(13:30) GDP (Preliminary) (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.