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7th Mar 2022. 7.45am

Regency View:

Morning Report – Monday 7th March

FTSE to open at 6,814 (-173 pts)

Friday’s US jobs data saw non-farm payrolls accelerate (687k v 400k expected), but wage growth failed to pick up with average hourly earnings growth slowing from 5.7% to 5.1% (5.8% expected).

Overnight, Chinese stocks have plunged to a 20-month low as surging commodity prices and an escalating Russia-Ukraine crisis has damped growth expectations. While Gold has broken to 12-month high as investors become increasingly risk averse.

Looking ahead this week, key events on our calendar include Tuesday’s Apple product launch event and Thursday’s European Central Bank governing council meeting in Frankfurt.

S&P 500-0.79%Bearish for UK stocks
Hang Seng-3.33%Bearish for UK stocks
Gold+0.46%Bearish for UK stocks
AUD/JPY+0.93%Bullish for UK stocks
US 10yr Yield-111ptsBullish for UK stocks
Regency Risk Barometer Snapshot

On Friday, the FTSE posted its largest one-day loss since December – breaking decisively below support 7,200 and taking prices down into the November swing lows.

Overnight, the futures have fallen further to retest another major area of support at 6,800. The market has now fallen more than 10% from its New Year highs.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Clarkson (CKN)
Mti Wireless (MWE)
Downing Renewa. (DORE)
International Economic Announcements
(07:00) Current Account (GER)
(07:00) Balance of Trade (GER)
(07:00) Factory Orders (GER)
(10:00) Retail Sales (EU)
(20:00) Consumer Credit (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.