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1st Sep 2022. 7.46am

Regency View:

Morning Report – Thursday 1st September

FTSE to open at 7,244 (-40 pts)

The S&P 500 continued its recent sell off and has now dropped almost 6% since Fed Chair Jay Powell’s hawkish speech at the Jackson Hole Symposium on Friday.

Overnight in Asia, stocks in Hong Kong have weakened as Chinese authorities announced they will lock down the megacity of Chengdu due to their stringent Covid-19 protocols.

This morning’s UK house price data showed that growth slowed less than expected in August as a lack of housing supported prices, despite falling household incomes and rising mortgage rates.

S&P 500-0.78%Bearish for UK stocks
Hang Seng-1.80%Bearish for UK stocks
Gold-0.25%Bullish for UK stocks
AUD/JPY-0.09%Neutral for UK stocks
US 10yr Yield+90ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE fail to hold at support – breaking lower and closing near intra-day lows.

This morning’s pre open price action has seen downside continuation and dominant momentum is firmly bearish.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Omega Dia (ODX)
Interim Results
Eurocell (ECEL)
Alfa Fin (ALFA)
Pphe Hotel (PPH)
Gulf Keystone Petroleum (GKP)
Gem Diamonds Di (GEMD)
Wentworth Res. (WEN)
Camellia (CAM)
UK Economic Announcements
(07:00) Nationwide House Price Index
International Economic Announcements
(07:00) Retail Sales (GER)
(08:55) Unemployment Rate (GER)
(08:55) PMI Manufacturing (GER)
(09:00) PMI Manufacturing (EU)
(10:00) Unemployment Rate (EU)
(13:30) Initial Jobless Claims (US)
(14:45) PMI Manufacturing (US)
(15:00) ISM Manufacturing (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.