1st Jul 2021. 7.51am
Morning Report – Thursday 1st July
FTSE to open at 7,073 (+36 pts)
We continue to see a disconnect between Wall Street and the rest of the world, as the S&P edged to another high yesterday with Asia and Europe weakening.
This week’s PMI’s from Asia signal that rising costs and the COVID-19 delta variant are having a negative impact on Asia’s factory activity. Manufacturing grew at a slower pace in China and Japan, while activity shrank in Vietnam, Malaysia and India.
|S&P 500||+0.15%||Neutral for UK stocks|
|Hang Seng||-0.57%||Bearish for UK stocks|
|Gold||+0.39%||Bearish for UK stocks|
|AUD/JPY||-0.14%||Neutral for UK stocks|
|US 10yr Yield||-0.35%||Neutral for UK stocks|
The FTSE didn’t quite test the 7,000 that we’d been targeting, but it got close and than rallied from lows – forming a bullish long-tailed candle.
Should the market break above yesterday’s highs during the opening rotations, it should set the tone for a strong session.
|Ao World (AO.)|
|Argentex Group (AGFX)|
|Polar C. Hldgs (POLR)|
|AB Foods (ABF)|
|Cairn Homes (CRN)|
|Loungers Plc (LGRS)|
|Pz Cussons (PZC)|
|UK Economic Announcements|
|(09:30) PMI Manufacturing|
|International Economic Announcements|
|(08:55) PMI Manufacturing (GER)|
|(09:00) PMI Manufacturing (EU)|
|(10:00) Unemployment Rate (EUR)|
|(13:30) Continuing Claims (US)|
|(13:30) Initial Jobless Claims (US)|
|(14:45) PMI Manufacturing (US)|
|(15:00) ISM Manufacturing (US)|
|(20:30) Auto Sales (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.