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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)
REI (RLE)
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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Disclaimer:

This research is prepared for general information only and should not be construed as any form of investment advice.