19th Oct 2021. 7.26am
Regency View:
Morning Report – Tuesday 19th October
FTSE to open at 7,216 (+13 pts)
Following a relatively mixed start to the week, Wall Street closed with its fourth consecutive day of gains on Monday.
After opening lower, US stocks rebounded as investors shrugged off earlier concerns about slowing Chinese growth, encouraged by an expected continuation of upbeat earnings reports this week.
Asian equities followed Wall Street higher during overnight trading, boosted by further gains in technology stocks extending last week’s strong run from the sector.
| S&P 500 | +0.34% | Bullish for UK stocks |
| Hang Seng | +1.23% | Bullish for UK stocks |
| Gold | +0.66% | Bearish for UK stocks |
| AUD/JPY | +0.60% | Bullish for UK stocks |
| US 10yr Yield | +0.52% | Bearish for UK stocks |
After failing to gain traction back above 7,224, the FTSE 100 moved steadily lower during yesterday’s trading session.
The UK’s benchmark index appeared to find support at around 7,190, which was previously a key level of resistance back in September.
With the futures market indicating an initial bounce from here today, we will be watching to see if buyers can extend this move higher as the day unfolds.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Bellway (BWY) |
| Essensys (ESYS) |
| YouGov (YOU) |
| Interim Results |
| B.p Marsh (BPM) |
| Trading Announcements |
| 888 Holdings (888) |
| BHP Group (BHP) |
| International Economic Announcements |
| (13:30) Building Permits (US) |
| (13:30) Housing Starts (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.