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22nd Mar 2021. 7.48am

Regency View:

Morning Report – Monday 22nd March

FTSE to open at 6,687 (-21 pts)

We can see from the Risk Barometer (below) that there is a mixed backdrop for equities as we head towards the European open…

The Turkish lira dropped by as much as 14% overnight following President Erdogan’s sacking of his central bank chief. Whilst this news is bad for risk appetite in emerging markets, it has caused bond yields to drop back from highs, which along with last week’s drop in oil has eased inflationary concerns.

S&P 500-0.06%Neutral for UK stocks
Hang Seng-0.17%Neutral for UK stocks
Gold-0.85%Bullish for UK stocks
AUD/JPY-0.35%Bearish for UK stocks
US 10yr Yield-2.47%Bullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE managed to fight back on Friday afternoon, to finish the week above 6,705 support.

We’re set to open in and around that support level, and the bulls will need to defend this area during the opening rotations to prevent a swift move down towards 6,600.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Blackbird (BIRD)
Centamin PLC (CEY)
Kingfisher (KGF)
Yew Grove Reit. (YEW)
Annual Report
Taylor Wimpey (TW.)
UK Economic Announcements
(07:00) Current Account
(12:30) Gross Domestic Product (US)
International Economic Announcements
(07:00) GFK Consumer Confidence (GER)
(08:00) IFO Current Assessment (GER)
(08:00) IFO Expectations (GER)
(08:00) IFO Business Climate (GER)
(09:00) Current Account (EU)
(13:30) Personal Consumption Expenditures (US)
(14:00) Existing Home Sales (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.