30th Jun 2021. 7.46am
Morning Report – Wednesday 30th June
FTSE to open at 7,075 (-12 pts)
Asian stocks have weakened as China’s factory activity expanded at a slightly slower pace in June.
The reduced growth rate was due to high raw material costs and port disruptions in the export province of Guangdong.
This morning’s UK GDP numbers came in below expectations with the UK economy contracting 1.6% quarter-on-quarter (Q1) – taking FTSE futures lower as we head towards the opening bell.
|S&P 500||+0.03%||Neutral for UK stocks|
|Hang Seng||-0.47%||Bearish for UK stocks|
|Gold||-0.04%||Neutral for UK stocks|
|AUD/JPY||+0.17%||Neutral for UK stocks|
|US 10yr Yield||-0.55%||Neutral for UK stocks|
The FTSE failed to muster much of fightback yesterday as the market sold-off into the close.
As mentioned in yesterday’s Morning Report, the logical next step for the market is a retest of the support zone at 7,000 – 6,941.
|Cake Box Holdi. (CBOX)|
|Civitas Social Housing (CSH)|
|Dixons Carphone (DC.)|
|M&C Saatchi (SAA)|
|OptiBiotix Health (OPTI)|
|Studio Ret (STU)|
|Harworth Gp (HWG)|
|Velocity Comp (VEL)|
|UK Economic Announcements|
|(00:01) BRC Shop Price Index|
|(07:00) Current Account|
|(07:00) Gross Domestic Product|
|International Economic Announcements|
|(08:55) Unemployment Rate (GER)|
|(12:00) MBA Mortgage Applications (US)|
|(14:45) Chicago PMI (US)|
|(15:00) Pending Homes Sales (US)|
|(15:30) Crude Oil Inventories (US)|
Don’t have a Regency account yet?
Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.Create Account
This research is prepared for general information only and should not be construed as any form of investment advice.