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13th Oct 2021. 7.47am

Regency View:

Morning Report – Wednesday 13th October

FTSE to open at 7,108 (-22 pts)

Wall Street continued to weaken yesterday as last week’s poor set of non-farms payrolls continued to ramp-up fears of stagflation (stagnating growth and high inflation).

It’s been a quiet Asian session due to markets being closed for Chinese Chung Yeung Festival, and the Japanese Nikkei 225 index has traded slightly lower at -0.30%.

This morning’s UK manufacturing and industrial production data came in ahead of expectations, showing a 0.5% and 0.8% gain respectively for August.

S&P 500-0.24%Bearish for UK stocks
Hang Seng+0.00% (closed)Neutral for UK stocks
Gold+0.14%Neutral for UK stocks
AUD/JPY-0.19%Neutral for UK stocks
US 10yr Yield-2.42%Bullish for UK stocks
Regency Risk Barometer Snapshot

For the second consecutive session, the FTSE rallied from intra-day lows only to be halted by short-term resistance.

Yesterday’s range was fully contained within Monday’s range – forming an ‘inside day’ pattern on the futures. This is quite a large inside day and therefore lacks an intensity of price compression, but it may indicate that the market is building for a break of resistance.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Applied Graph. (AGM)
Interim Results
Angling Direct (ANG)
Sndrsn Dsn (SDG)
Trading Announcements
Audioboom Grp. (BOOM)
Marstons (MARS)
UK Economic Announcements
(07:00) Manufacturing Production
(07:00) Gross Domestic Product
(07:00) Industrial Production
(07:00) Index of Services
(07:00) Balance of Trade
International Economic Announcements
(07:00) Consumer Price Index (GER)
(10:00) Industrial Production (EU)
(12:00) MBA Mortgage Applications (US)
(13:30) Consumer Price Index (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.