10th Aug 2021. 7.46am
Regency View:
Morning Report – Tuesday 10th August
FTSE to open at 7,133 (-1 pt)
The commodity sell-off has tempered overnight with gold and oil bouncing from six-month lows.
While Asian stocks have had a quietly bullish session with both Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index touching two-week highs.
Our Risk Barometer is in Neutral to Bullish territory as we head into the European open.
| S&P 500 | -0.09% | Neutral for UK stocks |
| Hang Seng | +1.13% | Bullish for UK stocks |
| Gold | +0.40% | Neutral for UK stocks |
| AUD/JPY | +0.12% | Neutral for UK stocks |
| US 10yr Yield | +1.83% | Bullish for UK stocks |
The FTSE rallied from the confluent support zone that we highlighted in yesterday’s Morning Report.
Given yesterday’s bullish price action, the FTSE is well positioned to retest the long-term resistance zone at 7,167 – 7,219.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Abrdn Plc (ABDN) |
| Derwent London (DLN) |
| Flutter Ent (FLTR) |
| Gamesys Group (GYS) |
| Georgia Capital (CGEO) |
| Marshall Motor (MMH) |
| Telecom Egypt S (TEEG) |
| Zotefoams (ZTF) |
| Q2 Results |
| Telecom Egypt S (TEEG) |
| UK Economic Announcements |
| (00:01) Retail Sales |
| International Economic Announcements |
| (10:00) ZEW Survey (EU) – Economic Sentiment |
| (10:00) ZEW Survey (GER) – Current Situation |
| (10:00) ZEW Survey (GER) – Economic Sentiment |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.