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23rd Feb 2022. 7.44am

Regency View:

Morning Report – Wednesday 23rd February

FTSE to open at 7,505 (+11 pts)

Yesterday’s price action across stocks and commodities indicates that perhaps the worst of the Russia / Ukraine situation has been ‘priced in’…

Brent crude spiked toward $100 a barrel for the first time since 2014, but prices closed well off their intra-day highs. And whilst the S&P moved back into ‘correction territory’ (10% from its January highs), the US benchmark did show signs of stabilisation.

Overnight in Asia, we’ve seen a the bounce continue with the Hang Seng firmly in positive territory, but it should be noted that Japan’s stock market is closed for the Emperor’s Birthday.

S&P 500-1.01%Bearish for UK stocks
Hang Seng+0.47%Bullish for UK stocks
Gold-0.16%Neutral for UK stocks
AUD/JPY+0.28%Bullish for UK stocks
US 10yr Yield+36ptsBearish for UK stocks
Regency Risk Barometer Snapshot

FTSE put in a strong bounce from support yesterday as the market bulls fought to maintain the market’s series of higher swing lows.

Yesterday’s bounce has taken price towards the top of their descending retracement channel, and we’ll be watching closely to see if the market can muster enough bullish momentum to breakout from the channel.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Rio Tinto (RIO)
Irish Residenti (0QT8)
Photo-Me (PHTM)
Barclays (BARC)
Capital & Counties (CAPC)
Georgia Capital (CGEO)
Interim Results
Netcall (NET)
Avingtrans (AVG)
Cap-xx (CPX)
International Economic Announcements
(07:00) GFK Consumer Confidence (GER)
(15:30) Crude Oil Inventories (US)
(12:00) MBA Mortgage Applications (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.