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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
Regency Risk Barometer Snapshot

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

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)
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.