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Summary
- UK shares are likely to open a slice higher on Monday, 14 June
- Last week, FTSE 100 finished with a 5-day gain of 0.92 per cent
- Futures linked to the FTSE 100 traded 0.11 per cent higher at 7,071.8
UK shares are likely to open a slice higher on Monday, 14 June, tracking the mixed trade in major Asian markets with Nikkei 225 of Japan leading the charge. In the apparently lacklustre stretch last week, the benchmark FTSE 100 managed to finish with a weekly gain of a little more than 0.90 per cent at 7,134.06.
Even with the macroeconomic indicators suggesting a meaningful bounce back in the national economy, the investors’ sentiments have remained dull, largely due to the rising worries over increasing cases associated with the mutated strains of coronavirus.
The futures linked to the FTSE 100 traded 0.11 per cent higher at 7,071.8, indicating a positive start to the London equities.
Across the major Asian peers, Japan’s Nikkei 225 ended at 29,161.80, up 0.74 per cent, Shanghai Composite of China slipped 0.58 per cent to close at 3,589.75, Hang Seng of Hong Kong rose 0.36 per cent to finish at 28,842.13, South Korea’s Kospi added 0.12 per cent to 3,253.21, India’s Nifty 50 lost 0.52 per cent at 15,717.85, while ASX 200 of Australia terminated moderately higher at 7,312.30, up 0.13 per cent.
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The market participants have remained tilted to the upcoming macro developments in order to substantiate their respective trading setups. In the week ahead, the Office for National Statistics (ONS) is slated to announce a slew of major economic indicators including the Claimant Count for May, unemployment rate for the month of April, CPI-based inflation rate, factory gate prices in the UK and retail sales for May, respectively.
However, the investors will be closely watching the forthcoming developments in the Covid activity in the UK as the country is set to reopen on a farther scale from the next week under which the Downing Street administration will remove all the legal limits on mixing in the large gatherings.
Most importantly, all such businesses, enterprises and other settings that are still shut, including the nightclubs and stadiums hosting large events will be allowed to reopen under the Stage 4 of planned easements. The events that have disturbed the reduced Covid activity in the recent past will be reviewed as certain jurisdictions have witnessed mini outbreaks of Delta variant of coronavirus.
