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FTSE 100 gets retail sales boost

by LLB Editor
13th Jul 21 12:02 pm

After enjoying a recovery through the course of the day on Monday, the FTSE 100 started Tuesday in decent form after last night’s confirmation that England’s Covid restrictions will be lifted on 19 July.

“Sentiment is also boosted by the removal of the remaining restrictions on UK banks’ dividends, booming British retail sales and better than expected export data from China,” says AJ Bell financial analyst Danni Hewson.

“The relaxation in coronavirus rules and the feel-good factor around the Euros – until its bitter denouement on Sunday night from an English perspective – saw strong trading for UK shops according to the figures from the British Retail Consortium.

“Whether this pent-up demand continues to be in evidence after ‘Freedom Day’ remains to be seen.

“Further direction for the markets may come from across the pond and the start of the US second quarter earnings season – with numbers from US banking giants JP Morgan Chase and Goldman Sachs. American inflation figures may also help set the tone for the coming days.”

 

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