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9th Mar 2022. 7.45am

Regency View:

Morning Report – Wednesday 9th March

FTSE to open at 7,092 (+128 pts)

US President Joe Biden announced yesterday that he has banned imports of Russian oil and gas into the US.

The move was matched by the UK, who promised to phase-out Russian oil-imports, and the EU unveiled a plan to cut Russian gas imports by two-thirds within a year.

The energy sanctions were largely price-in earlier in the week, but Brent crude still pushed higher on the news.

Overnight in Asian, stocks struggled for footing as traders assessed the threat of ‘stagflation’ caused by the Russian invasion.

S&P 500-0.72%Bearish for UK stocks
Hang Seng-1.24%Bearish for UK stocks
Gold-0.49%Bullish for UK stocks
AUD/JPY+0.43%Bullish for UK stocks
US 10yr Yield+70ptsBearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE bounce from the key support level we identified earlier in the week.

During early hours trading, the futures have pushed back towards yesterday’s highs – an area which may provide some short-term resistance as we head towards the opening bell.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Legal & General (LGEN)
Alfa Fin (ALFA)
Quilter (QLT)
Ibstock (IBST)
Prudential (PRU)
Somero Enter Di (SOM)
Network Intl (NETW)
Breedon (BREE)
Headlam (HEAD)
Foresight Solar (FSFL)
888 Holdings (888)
Interim Results
Kier (KIE)
Thinksmart Ltd (TSL)
UK Economic Announcements
(00:01) Retail Sales
International Economic Announcements
(12:00) MBA Mortgage Applications (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.