FTSE 100 set to open a bit higher as Wall Street shines

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Summary

  • FTSE 100 is likely to open a tad higher on Friday, 16 April.
  • A higher Wall Street closing on Thursday boosted the investors’ confidence.
  • Asian markets traded in positive territory with Shanghai Composite leading the charge.

The headline stock indicator of London Stock Exchange (LSE) FTSE 100 is likely to open a tad higher on Friday, 16 April, tracking the upbeat Wall Street on Thursday. All the three major stock indices including the Dow Industrials, Nasdaq Composite and S&P 500 ended in the positive region after the retail sales in the United States registered a growth of nearly 10 per cent in March 2021.

The futures linked to the FTSE 100 traded 0.25 per cent higher on Friday, indicating a positive start to the London equities. Earlier yesterday, the FTSE 100 managed to close 0.63 per cent higher at 6,983.50, its fresh 52-week closing high, after hitting an intraday peak of 6,994.90.

FTSE 100 (1 month)

(Source: Refinitiv, Thomson Reuters)

As per the data available with various exchanges, the Dow Jones Industrial Average (DJIA) rose 0.90 per cent to finish at 34,035.99, the tech-concentrated Nasdaq Composite jumped 1.31 per cent to 14,038.76, while the broader benchmark S&P 500 amassed a gain of 1.11 per cent to conclude at 4,170.42. Barring Nasdaq Composite, the Dow Industrials and S&P 500 ended at their respective all-time highs.

According to the data released by the US Census Bureau, the retail sales in the United States surged by 9.8 per cent in March as compared to the reading recorded for February. Notably, March 2021 has been the best month for retail sales in the US since May 2020 as most of the regional businesses and enterprises offering non-essential services reopened.

Meanwhile, all the major Asian markets traded in the positive territory with Shanghai Composite of China leading the charge. Japan’s Nikkei 225 rose 0.14 per cent, South Korea’s Kospi added 0.22 per cent, India’s Nifty 50 jumped 0.39 per cent, Hong Kong’s Hang Seng gained 0.60 per cent, while China’s benchmark Shanghai Composite rallied 0.74 per cent.


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