10th Mar 2021. 7.49am

Regency View:
Morning Report – Wednesday 10th March
FTSE to open at 6,695 (-35 pts)
It’s been a quiet Asian session with the bond market out of the headlines and the Hang Seng holding above long-term support.
The risk barometer has a bullish to neutral outlook thanks to a solid set of gains in US trading. And whilst the FTSE futures are set for a weak open, this could attract buyers.
S&P 500 | -1.13% | Bearish for UK stocks |
Hang Seng | -1.10% | Bearish for UK stocks |
Gold | +0.54% | Bearish for UK stocks |
AUD/JPY | -0.18% | Neutral for UK stocks |
US 10yr Yield | +73pts | Bearish for UK stocks |
The FTSE came within touching distance of testing the 6,800 February swing highs before beating a hasty retreat.
With the futures languishing near yesterday’s lows, the market will need to hold above the broken swing resistance area at 6,705 to maintain a bullish outlook.
A break of yesterday’s lows in early trading will likely lead to a move down into the 6,600 area.
Interim Results |
Thungela Res (TGA) |
Mti Wireless (MWE) |
UK Economic Announcements |
(00:01) RICS Housing Market Survey |
International Economic Announcements |
(07:00) Wholesale Price Index (GER) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.