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9th Sep 2021. 7.47am

Regency View:

Morning Report – Thursday 9th September

FTSE to open at 7,040 (-55 pts)

Stocks sold-off on both sides of the Atlantic yesterday as investors grew cautious ahead of today’s ECB rate decision and policy statement…

Analysts expect the ECB to announce a tapering in monthly bond purchases from €80bn to around €60bn – cue ‘taper tantrum’ from the stock market!

Overnight, Asian stocks have mirrored yesterday’s bearish European sentiment, with the Hang Seng and Nikkei in negative territory.

S&P 500-0.13%Neutral for UK stocks
Hang Seng-1.82%Bearish for UK stocks
Gold+0.03%Neutral for UK stocks
AUD/JPY-0.07%Neutral for UK stocks
US 10yr Yield-2.46%Bearish for UK stocks
Regency Risk Barometer Snapshot

The FTSE has broken decisively below short-term support at 7,092 and below the ascending trendline – indicating that short-term momentum is firmly bearish.

We are now anticipating a retest of the August swing lows which come in just below the psychologically significant 7,000 handle.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Genus (GNS)
Go-Ahead (GOG)
Interim Results
Burford Capital (BUR)
Cairn Homes (CRN)
Chaarat Gold (CGH)
Computacenter (CCC)
Destiny Pharma. (DEST)
Emis (EMIS)
Funding Circle (FCH)
International Public Partnerships (INPP)
Jadestone Energy (JSE)
Lookers (LOOK)
Morrison (MRW)
Oakley (OCI)
Spire Healthcare (SPI)
Stvg (STVG)
UK Economic Announcements
(00:01) RICS Housing Market Survey
International Economic Announcements
(07:00) Current Account (GER)
(07:00) Balance of Trade (GER)
(10:00) Gross Domestic Product (EU)
(12:45) ECB Interest Rate (EU)
(13:30) Continuing Claims (US)
(13:30) Initial Jobless Claims (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.