Home Business NewsBusiness FTSE 100 grounded despite strong US cues

FTSE 100 grounded despite strong US cues

by LLB Reporter
14th Apr 22 11:09 am

Despite the tailwind of a US market which flew higher amid strong numbers for Delta Airlines, the FTSE 100 was firmly grounded ahead of the Easter break, trading modestly lower on Thursday morning.

The top riser was British Airways owner International Consolidated Airlines which took heart from Delta’s update, which suggests people are prioritising air travel despite the pressures on their finances.

After so long of having their travel restricted, it seems the appeal of jetting away is very strong.

“Several big US banks are due to report across the Atlantic, while the latest brush strokes in the global interest rate picture will be painted by the European Central Bank later as it meets to decide whether to follow the Bank of England and US Federal Reserve in hiking rates,” says Danni Hewson, financial analyst at AJ Bell.

“The expectation is that ECB chief Christine Lagarde and her colleagues will sit on their hands but the runaway nature of inflation in the Eurozone is bringing considerable pressure to bear on the central bank.

“Recruiter Hays became the latest firm to warn on the impact of its exit from Russia more positively, and despite the uncertain economic outlook, the company continues to see a very competitive jobs market with considerable difficulty for businesses in attracting the staff they need. This puts the services of a company like Hays at a real premium.”

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