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FTSE faces summer lull

by LLB Editor
10th Aug 21 10:05 am

 The FTSE 100 was struggling for direction like a new driver without their satnav on Tuesday morning as investors weighed a weak session on Wall Street overnight and slowing growth in UK consumer spending.

“With the flood of big companies reporting on both sides of the Atlantic slowing to a trickle and with trading volumes seeing their usual summer lull there is a sleepy feel to the markets at present,” says AJ Bell financial analyst Danni Hewson.

“However, previous experience suggests it might not take much to jolt investors awake, six years ago an August sell-off in China prompted a sharp correction around the globe.

“Mounting concern that the spread of the Delta variant might set back the Chinese recovery, after it became the first major economy to emerge from the pandemic, is a risk the world will be watching.”

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