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21st Jul 2022. 7.49am

Regency View:

Morning Report – Thursday 21st July

FTSE to open at 7,265 (+1 pt)

The S&P 500 broke to 1-month highs yesterday, but printed its smallest daily range in over seven sessions – indicating that the recent rally is losing momentum.

While in Asia, stocks have been mixed with the Hong Kong’s Hang Seng dropping more than -1% and Japan’s Nikkei 225 bouncing +0.47%.

Russia is set to resume supplies of gas to mainland Europe today at reduced capacity following a 10-day maintenance break – easing fears of a retaliatory gas cut in response to Europe’s military support of Ukraine.

S&P 500+0.59%Bearish for UK stocks
Hang Seng-1.03%Bearish for UK stocks
Gold-0.39%Bullish for UK stocks
AUD/JPY+0.26%Bullish for UK stocks
US 10yr Yield-4ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE pullback and erase around half of Tuesday’s breakout gains.

The market needs to hold near Tuesday’s highs in order to maintain the renewed bullish momentum.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
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Interim Results
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Trading Announcements
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UK Economic Announcements
(07:00) Public Sector Net Borrowing
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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.