The FTSE 100 index has recorded a jump in today’s early trading. It is up by 0.20 per cent and is currently at 7,029.
United States Inflation Concerns
The FSTE 100 index is on the spotlight as every economic investor is closely eyeing its trend. Inflation fears that had spurred the economic market are slowly coming to a halt. The United States Federal Reserve have reaffirmed investors to approach the monetary policy with more caution.
Economic analysts anticipated the tightening of the monetary policy by the Fed earlier than expected. This was after Us Consumer Price Index (CPI) rose at the fastest race in 12 years. The Fed vice, Richard Clarida, has promised that the United States central bank will ensure the inflation’s “soft landing” without affecting the country’s economy. Despite his calm talks, many investors remain cautious as surge in prices emerge.
While the Fed’s pricing pressures are the main talks in the economic market, Neil Wilson said:
“Vice chair Richard Clarida underscored a change in the tune we have seen since the April meeting minutes were released by saying that the central bank could start tapering in the coming months.”
The FTSE 100 has reacted to the Marks & Spencer Group PLC announcement on the closure of several of its stores. This was after the retail giant recorded a £201 million loss due to the Corona Virus pandemic. However, the company has been making efforts to recover its store sales by increasing its online capability. The retail company has recorded a 54 per cent increase on its online sales but has not been able to fully recover its 56% loss in store sales. The company is expected to rise stronger than before.
The British Land recorded a 10.8% loss from £11.1 billion to £9.1 billion. However, the company says that all hope is not yet lost. The company expects that with the easing of the lockdown restrictions it will be on its feet again.
FTSE Top Movers
Croda International plc is the best performer in the FTSE 100 index. Entain plc and Flutter Entertainment are also among the top performers in the index.
The fallers in the index include Intertek Group plc, EVRAZ plc, British Land plc, among others.