The FTSE 100 was marking time early on with US Federal Reserve chair Jerome Powell set to address the Jackson Hole summit of economic policymakers later,”L says AJ Bell Financial analyst Danni Hewson.
“Whether Powell will say anything of substance remains to be seen, although the slightest hint in the direction of tapering could prompt an outsized market response.
“The resources sector provided some support to the UK’s flagship index as mining stocks followed commodity prices higher on a quiet day for corporate news ahead of the August Bank Holiday.
“News from aircraft charter services group Air Partner and reports on British Airways owner International Consolidated Airlines hinted at the kind of reinvention the aviation sector might have to resort to in a post-pandemic world.
“Air Partner is seeing demand from high-net worth individuals looking to jet off on holiday make up for a loss of corporate custom.
“Separately British Airways is reported to be planning the launch of a budget airline to take on EasyJet and Ryanair after the collapse in business travel hit its flagship routes – particularly flights from London to New York.
“Elsewhere guarantor loans firm Amigo’s days may be numbered as it faces a tsunami of compensation claims amid a much tougher regulatory backdrop for subprime lenders.”