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22nd Nov 2021. 7.45am

Regency View:

Morning Report – Monday 22nd November

FTSE to open at 7,245 (+21 pts)

The S&P 500 touched another all-time high on Friday, but the market could not muster a bullish close and instead formed an indecisive ‘spinning top’ candle.

Overnight in Asia, Chinese equities have weakened as Beijing’s revenue from land sales slumped for a fourth consecutive month in October – signalling that the property crisis is deepening.

Looking ahead, we have a relatively thin corporate and economic calendar, and we are likely to see market volatility reduce as we head in Thanksgiving on Thursday for which Wall Street will be closed.

S&P 500-0.14%Bearish for UK stocks
Hang Seng-0.52%Bearish for UK stocks
Gold-0.10%Neutral for UK stocks
AUD/JPY+0.52%Bearish for UK stocks
US 10yr Yield-2.58%Bullish for UK stocks
Regency Risk Barometer Snapshot

We’re starting the week right on the key support zone created by the broken summer highs.

Bearish momentum has accelerated into the support zone, and we’re yet to see any bullish reversal patterns form at this level. That said, the FTSE futures have responded to the support zone as we head into the opening bell.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Carrs Group (CARR)
Cerillion (CER)
Diploma (DPLM)
Interim Results
Augmentum Fint. (AUGM)
Big Yellow (BYG)
Centralnic (CNIC)
Sysgroup (SYS)
Thruvision Grp (THRU)
Trading Announcements
Diploma (DPLM)
International Economic Announcements
(07:00) GFK Consumer Confidence (GER)
(09:00) IFO Expectations (GER)
(09:00) IFO Current Assessment (GER)
(09:00) IFO Business Climate (GER)
(15:00) 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.