4th Mar 2021. 7.47am
Regency View:
Morning Report – Thursday 4th March
FTSE to open at 6,630 (-45 pts)
US stocks erased all of their gains for the week during yesterday’s session – this has followed through into Asian trading with the Hang Seng down nearly 2%.
It would appear that inflationary concerns are now starting to become entrenched in both the US and Asia.
Traders focus will start to turn towards tomorrow’s US non-farm payrolls number, with today’s Initial Jobless Claims likely to cause some volatility.
| S&P 500 | -1.31% | Bearish for UK stocks |
| Hang Seng | -1.89% | Bearish for UK stocks |
| Gold | +0.49% | Bearish for UK stocks |
| AUD/JPY | +0.59% | Bullish for UK stocks |
| US 10yr Yield | -1.39% | Bearish for UK stocks |
Yesterday’s strong open push took the market up into the last week’s swing highs at 6,705. After touching this level, the FTSE quickly retreated and then faded throughout the rest of the session.
6,705 is now the short-term market top and a move lower down towards last weeks lows at 6,462 looks a distinct possibility.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Aviva (AV.) |
| Cairn Homes (CRN) |
| Coats (COA) |
| CRH (CRH) |
| Entain (ENT) |
| Franchise Brand (FRAN) |
| Hunting (HTG) |
| Hutchison China (HCM) |
| Mail.rugrp S (MAIL) |
| Meggitt (MGGT) |
| Melrose (MRO) |
| Morgan Advanced Materials (MGAM) |
| Rathbone (RAT) |
| Rentokil Initial (RTO) |
| Schroders (SDR) |
| Spire Healthcare (SPI) |
| Synthomer (SYNT) |
| Vesuvius (VSVS) |
| Vistry Grp (VTY) |
| William Hill (WMH) |
| Interim Results |
| Galliford Try (GFRD) |
| Origin (OGN) |
| Ruffer Inv. Co. (RICA) |
| Q4 Results |
| Mail.rugrp S (MAIL) |
| Trading Announcements |
| Hansard (HSD) |
| UK Economic Announcements |
| (09:30) PMI Construction |
| International Economic Announcements |
| (10:00) Unemployment Rate (EU) |
| (10:00) Retail Sales (EU) |
| (13:30) Initial Jobless Claims (US) |
| (13:30) Continuing Claims (US) |
| (15:00) Factory Orders (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.