4th Aug 2021. 7.43am
Regency View:
Morning Report – Wednesday 4th August
FTSE to open at 7,137 (+31 pts)
Stocks on Wall Street bounced back after Monday’s wobble – closing within touching distance of record highs as strong corporate earnings and better than expected factory orders helped sooth the markets Delta-variant concerns.
The positivity continued into the Asian session with Hong Kong’s Hang Seng Index at one-week highs following a torrid sell-off earlier in the month. And our Risk Barometer has a bullish feel to it as we head into the European open.
| S&P 500 | +0.82% | Bullish for UK stocks |
| Hang Seng | +1.11% | Bullish for UK stocks |
| Gold | +0.18% | Bearish for UK stocks |
| AUD/JPY | +0.19% | Bullish for UK stocks |
| US 10yr Yield | -0.59% | Neutral for UK stocks |
The FTSE had a strong session yesterday – powering through 7,100 and closing near Tuesday’s highs.
This strength has continued during the early hours and the futures are set to open above yesterday’s highs – the market now has the key resistance zone at 7,167-7,219 in its sights.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Ferrexpo (FXPO) |
| Hiscox (HSX) |
| Legal & General (LGEN) |
| Morgan Sindall Group (MGNS) |
| Taylor Wimpey (TW.) |
| Q2 Results |
| Bank Pekao Sa (BPKD) |
| UK Economic Announcements |
| (09:30) PMI Services |
| International Economic Announcements |
| (08:55) PMI Services (GER) |
| (08:55) PMI Composite (GER) |
| (09:00) PMI Composite (EU) |
| (09:00) PMI Services (EU) |
| (10:00) Retail Sales (EU) |
| (12:00) MBA Mortgage Applications (US) |
| (14:45) PMI Composite (US) |
| (14:45) PMI Services (US) |
| (15:00) ISM Prices Paid (US) |
| (15:00) ISM Services (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.