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30th Mar 2021. 7.44am

Regency View:

Morning Report – Tuesday 30th March

FTSE to open at 6,771 (35 pts)

US stocks bounced back from fears that a default by hedge fund Archegos Capital Management may have wider contagion than Credit Suisse and Nomura.

Credit Suisse, who loaned equity to Archegos saw its shares plunge 14% yesterday, and Japanese bank Nomura, who also warned of a significant blow related to the fund, saw its shares drop 16%, the biggest sell-off for the company on record.

Our risk barometer is in relatively neutral territory, but it’s worth noting that US 10yr yields have broken to new 12-month highs overnight, and this may raise inflation concerns and weigh on stocks as European trading progresses.

S&P 500-0.09%Neutral for UK stocks
Hang Seng+1.10%Bullish for UK stocks
Gold-0.23%Neutral for UK stocks
AUD/JPY+0.46%Bullish for UK stocks
US 10yr Yield+2.18%Bearish for UK stocks
Regency Risk Barometer Snapshot

FTSE futures bounced back during the second half of US trading yesterday – hence this morning’s 35 point opening jump.

Clearly the key focus for the market will be on making a third attempt to break through the 6,800 barrier. Should it do so, then a run towards the January highs at 6,961 looks the most likely scenario – so there’s plenty of upside to play for.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Animalcare Grp (ANCR)
Barr (A.G.) (BAG)
Central Asia (CAML)
Chesnara (CSN)
Dialight (DIA)
Ekf Diagnostics (EKF)
Itaconix Plc (ITX)
Loopup Group (LOOP)
Michelmersh Brick Holdings (MBH)
S & U (SUS)
Silence Ther. (SLN)
Yu Group (YU.)
Interim Results
Nanoco (NANO)
Trading Announcements
3i Group (III)
Pennon (PNN)
UK Economic Announcements
(09:30) Mortgage Approvals
(09:30) M4 Money Supply
(09:30) Consumer Credit
International Economic Announcements
(07:00) Import Price Index (GER)
(10:00) Business Climate Indicator (EU)
(10:00) Consumer Confidence (EU)
(10:00) Economic Sentiment Indicator (EU)
(10:00) Services Sentiment (EU)
(10:00) Industrial Confidence (EU)
(14:00) House Price Index (US)
(15:00) Consumer Confidence (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.