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21st Oct 2021. 7.45am

Regency View:

Morning Report – Thursday 21st October

FTSE to open at 7,189 (-34 pts)

Wall Street moved to within touching distance of all-time highs yesterday, notching up its sixth consecutive day of gains and marking its longest run of daily increases since the end of June.

Overnight in Asia, stocks have softened due to fresh concerns about the weakening Chinese property sector as China Evergrande nears a default deadline on Saturday.

Evergrande said a deal to sell a $2.6 billion stake in its property services unit failed and the shares have tumbled more than 12% in today’s session.

S&P 500+0.37%Bullish for UK stocks
Hang Seng-0.81%Bearish for UK stocks
Gold+0.15%Neutral for UK stocks
AUD/JPY-0.43%Bearish for UK stocks
US 10yr Yield+1.22%Bearish for UK stocks
Regency Risk Barometer Snapshot

We mentioned in yesterday’s Morning Report that given Tuesday’s inside day, “Monday’s range now becomes pivotal in determining our directional bias”, and this observation hasn’t changed…

Yesterday’s price action saw the market print a narrow range – rejecting resistance as the market continues to coil within the inside day pattern.

The futures have drifted lower overnight, and it looks like we’ll see prices retest the bottom of Monday’s range at the open.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Renalytix Plc (RENX)
Renishaw (RSW)
Q3 Results
Barclays (BARC)
Trading Announcements
Aj Bell (AJB)
Anglo American (AAL)
Pensionbee (PBEE)
Rentokil Initial (RTO)
Spectris (SXS)
St James Place (STJ)
Unilever (ULVR)
Vivo Energy (VVO)
UK Economic Announcements
(07:00) Public Sector Net Borrowing
International Economic Announcements
(13:30) Initial Jobless Claims (US)
(13:30) Philadelphia Fed Index (US)
(13:30) Continuing Claims (US)
(15:00) Existing Home 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.