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Morning Markets Report – Thursday 21st October 2021

Risk appetite held firm during Wednesday with further gains for equities and risk-related trades.


Risk appetite held firm during Wednesday with further gains for equities and risk-related trades.

US bond yields overall were little changed despite further underlying inflation concerns.

Global equities made headway, but there was a more cautious tone on Thursday with a net retreat in Asia.

The dollar lost ground amid strong demand for risk assets, but did recover from fresh 3-week lows as conditions turned more cautious.

Euro-zone equities made further headway on Wednesday despite mixed earnings reports. There were expectations of sustained monetary support from the ECB and overall risk appetite held firm which underpinned confidence.

Major UK stocks were underpinned by strength in the commodities sector, but there was no sustained support from the inflation data. Markets were still wary over increased borrowing costs and rising covid cases with FTSE 100 index gains held to 0.1%.

Wall Street equities were again hampered by inflation concerns and supply-side issues, but the impact was offset by positive earnings reports and the S&P 500 index was able to advance 0.35%.

Futures lost some ground on Thursday with markets mixed in Asia amid reservations over the Evergrande situation.

Japans Nikkei 225 index declined 1.8% as the yen corrected stronger with little change for the Australian ASX index as commodity prices held firm.

China’s Shanghai index traded marginally higher in late trading, but Hong Kong’s Hang Seng index traded 0.8% lower.


Stock to watch today


Ibstock Plc has corrected lower in recent months and appears to have found support at the lower end of the trading range. We have seen some reversal type candles on the daily chart in recent sessions, and yesterday the shares closed above the 10 day exponential moving average. We believe this could trigger upside momentum in the short term. We have also noted the strong pick up in volume in recent days, which suggest the new buying is taking place. Higher pisces are expected from here.


CCM Opinion: BUY

Buy between 190 – 195p

Stop: 179p

Target: 242p


The value of shares can fall as well as rise; you may not get back the amount you invested. Past performance is no guarantee of future performance. Capital is invested at risk This document is published by Clear Capital Markets and does not constitute a solicitation or personal recommendation for the purchase or sale of investment. The investments referred to may not be suitable for all investors. Any data or views given should not be construed as investment advice. Every effort is made to ensure the accuracy of the information, but no assurance or warranties are given. Clear Capital Markets Limited is authorised and regulated by the Financial Conduct Authority FRN 706689.

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