2nd Mar 2022. 7.35am
Regency View:
Morning Report – Wednesday 2nd March
FTSE to open at 7,336 (+6 pts)
Oil pushed further above $100 while Asian shares sold off as Russia’s invasion of Ukraine intensified…
Brent crude, the international benchmark for oil, surged past $111 a barrel in early trading, with prices now 16% higher since Putin launched his invasion.
Oil’s rally continued despite the US and 30 other countries saying they would release 60 million barrels from their strategic reserves.
In Asian markets, the Hang Seng index broke to a new 18-month low overnight as investors pull money from emerging markets.
| S&P 500 | -1.55% | Bearish for UK stocks |
| Hang Seng | -1.91% | Bearish for UK stocks |
| Gold | -0.19% | Neutral for UK stocks |
| AUD/JPY | +0.17% | Neutral for UK stocks |
| US 10yr Yield | -110pts | Bullish for UK stocks |
Yesterday’s price action saw the FTSE reject the descending retracement line and close lower on the session – setting up a retest of key support at around 7,200.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Aviva (AV.) |
| Nichols (NICL) |
| Vistry Grp (VTY) |
| Persimmon (PSN) |
| Devro (DVO) |
| Polymetal International (POLY) |
| Trustpilot (TRST) |
| Apax Glb (APAX) |
| Hiscox (HSX) |
| Krm22 Plc (KRM) |
| Musicmagpie (MMAG) |
| Interim Results |
| Hotel Choc (HOTC) |
| International Economic Announcements |
| (07:00) Retail Sales (GER) |
| (08:55) Unemployment Rate (GER) |
| (12:00) MBA Mortgage Applications (US) |
| (15:00) ISM Manufacturing (US) |
| (15:00) ISM Prices Paid (US) |
| (15:30) Crude Oil Inventories (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.