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3rd Mar 2021. 7.49am

Regency View:

Morning Report – Wednesday 3rd March

FTSE to open at 6,670 (+56 pts)

We’re set for a bullish start to European trading as Asian stocks finally rejoin the party…

The Hang Seng is up over 2% today but remains 5% below it’s mid-Feb all-time highs.

US stocks had a quieter day yesterday, retracing 0.81%, but the S&P futures are bouncing back this morning.

Chancellor Rishi Sunak will outline his plans to kick-start the UK economy in today’s Budget. Stocks to watch include Housebuilders Taylor Wimpey (TW.) and Persimmon (PSN) – looking for an extension of the holiday on stamp duty, and UK-focused banks Lloyds (LLOY) and Natwest (NWG).

S&P 500-0.81%Bearish for UK stocks
Hang Seng+2.64%Bullish for UK stocks
Gold-0.20%Neutral for UK stocks
AUD/JPY+0.35%Bullish for UK stocks
US 10yr Yield+1.35%Bullish for UK stocks
Regency Risk Barometer Snapshot

The FTSE is set to open just above yesterday’s highs and above the descending line created by the lower swing highs printed in February.

We’ll be watching closely today to see if the market can hold and close above yesterday’s highs – as failure to do so would keep the current bearish pattern of lower swing highs and lower swing lows in place.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Allergy Thera. (AGY)
Avast (AVST)
Getbusy (GETB)
Nichols (NICL)
PageGroup (PAGE)
Persimmon (PSN)
Polymetal International (POLY)
Vivo Energy (VVO)
Tading Announcements
Biffa (BIFF)
UK Economic Announcements
(00:01) BRC Shop Price Index
(09:30) PMI Services
(12:00) Budget
International Economic Announcements
(08:55) PMI Services (GER)
(08:55) PMI Composite (GER)
(09:00) PMI Services (EU)
(09:00) PMI Composite (EU)
(10:00) Producer Price Index (EU)
(12:00) MBA Mortgage Applications (US)
(14:45) PMI Services (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.