26th Aug 2021. 7.46am
Regency View:
Morning Report – Thursday 26th August
FTSE to open at 7,108 (-42 pts)
Wall Street made modest gains yesterday as the market remains cautious ahead of the Federal Reserve’s Jackson Hole symposium on Friday.
While Chinese stocks resumed their sell-off overnight despite comments from a Communist Party official that the push for “common prosperity” does not mean “killing the rich”.
Our Risk Barometer is once again in mixed territory with Asian-related markets looking bearish and US-related markets looking bullish.
| S&P 500 | +0.22% | Bullish for UK stocks |
| Hang Seng | -1.43% | Bearish for UK stocks |
| Gold | -0.31% | Bullish for UK stocks |
| AUD/JPY | -0.25% | Bearish for UK stocks |
| US 10yr Yield | +3.67% | Bullish for UK stocks |
We mentioned in yesterday’s Morning Report that Monday’s high and Tuesday’s low represented mini-markers to gauge short-term sentiment.
And after rallying into Monday’s highs, the FTSE futures have promptly retreated, erasing all of yesterday’s gains – we are now anticipating a retest of Tuesday’s lows.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Hays (HAS) |
| Interim Results |
| Chesnara (CSN) |
| CRH (CRH) |
| Faron Pharma (FARN) |
| Glenveagh (GLV) |
| Hunting (HTG) |
| Macfarlane Grp. (MACF) |
| Pjsc Rus (HYDR) |
| International Economic Announcements |
| (07:00) GFK Consumer Confidence (GER) |
| (09:00) M3 Money Supply (EU) |
| (13:30) Continuing Claims (US) |
| (13:30) Initial Jobless Claims (US) |
| (13:30) GDP (Preliminary) (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.