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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
Regency Risk Barometer Snapshot

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

FTSE 100 Daily Rolling Futures – Key Levels
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This research is prepared for general information only and should not be construed as any form of investment advice.