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5th Oct 2021. 7.36am

Regency View:

Morning Report – Tuesday 5th October

FTSE to open at 7,027 (+16 pts)

Big US tech stocks were hit the hardest yesterday as the S&P 500 fell to its lowest closing price since late July.

Facebook was among the index’s five worst-performers, dropping 4.9% as its main services suffered outages, while Apple, Microsoft and Amazon were also hit hard.

The Hang Seng continued to sell-off in early trading but has since recovered to trade flat on the day.

Meanwhile oil hit seven-year highs yesterday as OPEC refused to accelerate output increases despite growing global energy shortages.

S&P 500-1.30%Bearish for UK stocks
Hang Seng+0.07%Neutral for UK stocks
Gold-0.61%Bullish for UK stocks
AUD/JPY-0.19%Neutral for UK stocks
US 10yr Yield+1.72%Bearish for UK stocks
Regency Risk Barometer Snapshot

The FTSE held short-term support yesterday, forming an ‘inside day’ in the process.

Given the high degree of randomness that comes with trading in the middle of a long-term range, there’s not much we can take from yesterday’s inside day other than the market is becoming tight with volatility starting to contract.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Bluefield Solar (BSIF)
Hotel Choc (HOTC)
Scs Group (SCS)
Interim Results
Inspiration Hlt (IHC)
Trading Announcements
Greggs (GRG)
UK Economic Announcements
(09:30) PMI Services
International Economic Announcements
(08:55) PMI Services (GER)
(08:55) PMI Composite (GER)
(10:00) Producer Price Index (EU)
(14:45) PMI Composite (US)
(14:45) PMI Services (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.