9th Feb 2022. 7.44am
Regency View:
Morning Report – Wednesday 9th February
FTSE to open at 7,607 (+40 pts)
Stocks on Wall Street pushed higher yesterday with big tech and banks leading the way.
While marathon talks between President Vladimir Putin and Emmanuel Macron increased hopes that war in Ukraine will be avoided.
Overnight in Asia, stocks have mirrored the rally on Wall Street with both the Hang Seng and Nikkei 225 up more than 1% on the day.
| S&P 500 | +0.84% | Bullish for UK stocks |
| Hang Seng | +1.94% | Bullish for UK stocks |
| Gold | +0.03% | Neutral for UK stocks |
| AUD/JPY | +0.01% | Neutral for UK stocks |
| US 10yr Yield | +46pts | Bearish for UK stocks |
The FTSE broke higher from the ‘inside day’ pattern that we identified yesterday – re-testing the New Year highs, but the market failed to maintain the breakout and closed back within the inside day.
This rejection of resistance is bearish, but the futures have pushed higher overnight and the market is set to retest the New Year highs at the open.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Lancashire Holdings (LRE) |
| Smurfit Kappa (SKG) |
| Interim Results |
| Pz Cussons (PZC) |
| Barratt Developments (BDEV) |
| Dunelm (DNLM) |
| Q4 Results |
| Lancashire Holdings (LRE) |
| Glaxosmithkline (GSK) |
| Trading Announcements |
| Grainger plc (GRI) |
| Discoverie Grp. (DSCV) |
| International Economic Announcements |
| 15:30 (US) EIA Crude Oil Stocks Change (Feb 4) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.