17th Aug 2021. 7.46am
Regency View:
Morning Report – Tuesday 17th August
FTSE to open at 7,118 (-36pts)
The theme of tightening Chinese regulation continued overnight with Beijing banning unfair competition among internet companies…
China’s antitrust watchdog said it would tighten antitrust and data restrictions on platforms – sparking a sell-off in Chinese tech shares and Hong Kong’s Hang Send Index is more than 2% lower on the day.
Looking ahead, we have U.S retails sales hitting our screens this afternoon, and the market is expecting a -0.2% month-on-month contraction as consumers held off on purchases amid Covid delta worries.
S&P 500 | +0.26% | Bullish for UK stocks |
Hang Seng | -2.06% | Bearish for UK stocks |
Gold | +0.29% | Bearish for UK stocks |
AUD/JPY | -0.40% | Bearish for UK stocks |
US 10yr Yield | -0.34% | Bearish for UK stocks |
The FTSE’s retreat from resistance has continued and the futures have fallen away this morning to retest yesterday’s lows.
A swift break below yesterday’s low during the opening rotation could trigger a deeper sell-off as the short-term support at 7093 is relatively tenuous.
Final Results |
BHP Group (BHP) |
Van Elle (VANL) |
Interim Results |
Genuit Grp Plc (GEN) |
Plus500 (PLUS) |
Electrica Regs (ELSA) |
UK Economic Announcements |
(07:00) Claimant Count Rate |
(07:00) Unemployment Rate |
International Economic Announcements |
(10:00) GDP (Preliminary) (EU) |
(13:30) Retail Sales (US) |
(14:15) Capacity Utilisation (US) |
(14:15) Industrial Production (US) |
(15:00) Business Inventories (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.