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31st Aug 2022. 7.47am

Regency View:

Morning Report – Wednesday 31st August

FTSE to open at 7,373 (+12 pts)

Stocks on Wall Street lost ground yesterday with the S&P 500 falling for the third straight session and erasing almost all of the index’s gains for the month of August.

Overnight in Asia, activity in China’s manufacturing sector contracted for second straight month in August. The contraction was blamed largely on power shortages triggered by a historic drought in the region.

Despite the weak Chinese economic data, Asian stocks have had a quiet session with the Hang Seng flat on the day and the Nikkei 225 less than half a percent higher.

S&P 500-1.10%Bearish for UK stocks
Hang Seng+0.05%Neutral for UK stocks
Gold-0.13%Neutral for UK stocks
AUD/JPY+0.37%Bullish for UK stocks
US 10yr Yield-3ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE burst higher during the cash market’s opening rotation only to then trend lower during the remainder of the session – erasing the morning’s gains and close the day below support.

This bearish intra-day reversal market the FTSE’s largest daily range in over a month.  

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Eco Animal (EAH)
Interim Results
Chesnara (CSN)
Flowtech Fluid. (FLO)
Bk. Cyprus Hldg (BOCH)
UK Economic Announcements
(00:01) BRC Shop Price Index
(07:00) Nationwide House Price Index
(09:30) M4 Money Supply
(09:30) Mortgage Approvals
(09:30) Consumer Credit
International Economic Announcements
(07:00) Import Price Index (GER)
(08:55) Unemployment Rate (GER)
(12:00) MBA Mortgage Applications (US)
(14:45) Chicago PMI (US)
(15:30) Crude Oil Inventories (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.