27th Jul 2021. 7.47am
Morning Report – Tuesday 27th July
FTSE to open at 6,995 (-30 pts)
Chinese stocks have continued to come under pressure overnight with the Hang Seng now down over 6% for the week as the market prices-in further regulatory tightening from Beijing.
It’s a big for U.S. corporate earnings with Apple, Alphabet (Google) and Microsoft reporting their quarterly numbers – check out our latest Stocks to Watch video for more information.
|S&P 500||+0.24%||Neutral for UK stocks|
|Hang Seng||-2.81%||Bearish for UK stocks|
|Gold||-0.09%||Neutral for UK stocks|
|AUD/JPY||-0.35%||Bearish for UK stocks|
|US 10yr Yield||+1.22%||Bullish for UK stocks|
Yesterday’s price action saw the FTSE rally back from intra-day lows, but the market remained within Friday’s range – forming an ‘inside day’ pattern.
This consolidation pattern signals compression, and when viewed in the context of the weekly bullish pin-bar that we highlighted yesterday, probabilities are marginally in favour of a break higher.
|Games Workshop (GAW)|
|In The Style G. (ITS)|
|Ince Group (INCE)|
|Moonpig Gr (MOON)|
|Capital & Counties (CAPC)|
|Croda International (CRDA)|
|Inter. Pers. (IPF)|
|Reach Plc (RCH)|
|Sabre Insur (SBRE)|
|Vivo Energy (VVO)|
|Virgin Money Uk (VMUK)|
|UK Economic Announcements|
|(23:01) BRC Shop Price Index|
|International Economic Announcements|
|(09:00) M3 Money Supply (EU)|
|(13:30) Durable Goods Orders (US)|
|(14:00) House Price Index (US)|
|(15:00) Consumer Confidence (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.