FTSE 100 of the London Stock exchange is currently trading at 7136.23 or 0.16 percent above previous close and just 0.68 percent lower than the 52-week high of 7184.95. Sentiment remained muted as the intermittent despair and euphoria in the last few trading sessions gave way to cautious optimism that a hawkish stance by the Fed would not goad the BOE to move away from its stated dovish stance.
Concerns over the delta variant which currently constitutes around 95 percent of the Covid-19 cases in the U.K have not abated and markets weighed the measures initiated in U.K and elsewhere to tighten curbs, delay relaxations and hasten vaccinations amidst comments from World Health Organization’s Europe Chief that the decline in European Covid cases had come to an end. Sentiment was supported amidst hopes of positive deliberations between EU and U.K regarding travel restrictions, recognition of Astra Zeneca jabs etc.
Publishing and exhibitions group Informa is topping the price charts with a gain of 3 percent. Mining stock Anglo American has gained 2.18 percent. Residential developer Taylor Wimpey added 2.03 percent whereas sports betting and gaming group Entain edged up 1.77 percent.
Standard Chartered declined 1.22 percent and property search portal Right Move has lost 1 percent. Luxury fashion house Burberry group is down by 0.92 percent in the day’s trade.
In the 101-scrip index, 33 have declined, 3 scrips are at same level as previous, and the remaining 65 have advanced indicating broad-based strength in the market sentiment.
The GBPUSD pair is hovering around 1.374 levels
In economic data, Services PMI, Composite PMI and Car Sales numbers are due on Monday.
Market Analysis
FTSE 100 Close To Flatline Without Fear Or Fervor
2021-07-02 12:23:34