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1st Jul 2021. 7.51am

Regency View:

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
Regency Risk Barometer Snapshot

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.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Ao World (AO.)
Argentex Group (AGFX)
Polar C. Hldgs (POLR)
Trading Announcements
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)
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.