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FTSE treading water with US jobs taking the spotlight

by LLB Editor
4th Jun 21 11:56 am

The FTSE 100 was determinedly sitting on the fence on Friday morning as investors awaited the US jobs report which could set the tone for the tail-end of this trading week and for the beginning of next week too.

“It’s hard to keep up with how the markets will react to different catalysts just now but the most likely scenario is that they would respond more positively to a disappointing number, on the assumption that this would keep central bank support, in the form of financial stimulus and low interest rates, in place for longer,” says AJ Bell financial analyst Danni Hewson.

“The travel sector continued to see aftershocks from yesterday’s earthquake decision to remove Portugal from the green list of travel destinations from the UK. Hopes of anything approaching a normal summer for the industry now look pretty much over.

“Domestically the hospitality sector will be hoping that a full reopening is still on the cards for the 21 June but creeping concern about the threat posed by the Delta variant may send any decision on this to the wire – which is clearly exceptionally unhelpful for businesses.”

 

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