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FTSE on course for strong end to the week

by LLB Editor
13th Aug 21 9:32 am

The FTSE 100 looks like rounding off a decent week in fine fashion on Friday as investors shrugged off a Delta variant linked sell-off in Asia, says AJ Bell financial analyst Danni Hewson.

“However, the closure of Chinese ports in an effort to control the spread of the more infectious Covid strain could add to global supply chain disruptions and become something the market cares about in fairly short order.

“For now UK stocks are taking their cue from the US, where the S&P 500 closed at a record high for a third consecutive day. Entertainment giant Disney demonstrated the increasing power of its huge library of content as it unveiled a better-than-expected quarterly performance.

“Its ownership of franchises like Star Wars, Marvel and Pixar – alongside the traditional House of Mouse stuff – is helping it hoover up subscribers and, as coronavirus restrictions are lifted, people are coming back to its theme parks too.

“This is important as the experience of interacting with Disney creations helps reinforce their appeal to prospective viewers.”

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