4th Aug 2021. 7.43am
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.
|Legal & General (LGEN)|
|Morgan Sindall Group (MGNS)|
|Taylor Wimpey (TW.)|
|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)|
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
Any Questions? Please feel free to call 0203 973 8007 or email us at email@example.com
This research is prepared for general information only and should not be construed as any form of investment advice.