29th Nov 2021. 7.39am
Morning Report – Monday 29th November
FTSE to open at 7,139 (95 pts)
We’ve seen relatively mild weakness in Asian markets overnight as markets await more data on whether the Omicron variant would really derail economic recoveries…
Oil prices have bounced $3 a barrel to recoup some of Friday’s heavy losses, while the safe haven Japanese yen took a breather after its run higher.
Markets will more than likely remain on edge until Pfizer and other vaccine producers confirm their efficacy rates for the new variant which could take up to two weeks.
|S&P 500||-2.27%||Bearish for UK stocks|
|Hang Seng||-0.91%||Bearish for UK stocks|
|Gold||+0.10%||Neutral for UK stocks|
|AUD/JPY||+0.43%||Bullish for UK stocks|
|US 10yr Yield||-9.32%||Bullish for UK stocks|
After Friday’s huge sell-off, we’re set for a volatile start to European trading…
The FTSE futures have bounced overnight, but with the market back within it’s long-term range, we expect a high degree of randomness.
However, should the market make it back to 7,200 area, we would expect to see some resistance kick back in as this area has been used as both resistance and support in recent months.
|Benchmark Hlds (BMK)|
|Molten Ventures (GROW)|
|Eckoh Technologies (ECK)|
|Acron Regs (AKRN)|
|International Economic Announcements|
|(10:00) Economic Sentiment Indicator (EU)|
|(15:00) Pending Homes Sales (US)|
|(10:00) Consumer Confidence (EU)|
|(10:00) Industrial Confidence (EU)|
|(10:00) Services Sentiment (EU)|
|(10:00) Business Climate Indicator (EU)|
|(09:30) Consumer Credit|
|(09:30) Mortgage Approvals|
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This research is prepared for general information only and should not be construed as any form of investment advice.