8th Dec 2021. 7.45am
Regency View:
Morning Report – Wednesday 8th December
FTSE to open at 7,329 (-11 pts)
Wall Street posted its biggest one-day gain since March yesterday as fears over the severity of the Omicron variant subsided, and Chinese authorities showed a willingness to stimulate the country’s slowing economy.
Asian stocks have had a mixed session with Japanese stocks continuing Wall Street’s rally, but Chinese stocks lagging due to news that Beijing will tighten rules for tech companies seeking foreign funding.
| S&P 500 | +2.07% | Bullish for UK stocks |
| Hang Seng | -0.02% | Neutral for UK stocks |
| Gold | +0.35% | Bearish for UK stocks |
| AUD/JPY | -0.04% | Neutral for UK stocks |
| US 10yr Yield | +2.73% | Bearish for UK stocks |
The strong drive higher continued to gather momentum yesterday and prices are now back within 70 points of their November highs.
This has been a near vertical 300 point rally from last week’s lows, so it wouldn’t be too surprising to see the market take a pause for breath and consolidate sideways for a few sessions.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Hardide (HDD) |
| SSP Group (SSPG) |
| Interim Results |
| Berkeley Group (BKG) |
| Quiz (QUIZ) |
| Trading Announcements |
| Mccoll’s (MCLS) |
| International Economic Announcements |
| (12:00) MBA Mortgage Applications (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.