London pre-open: Stocks seen muted as restrictions ease

Sharecast
Pre-open Market Report
06:37, 29th March 2021

(Sharecast News) - London stocks were set for a muted open on Monday as Covid restrictions in England ease, with groups of six or two households now allowed to meet outdoors.
The FTSE 100 was called to open unchanged at 6,740.

CMC Markets analyst Michael Hewson said: "For the time being markets appear to be adopting a glass half full mentality when it comes to sentiment as we look ahead to the end of the month, and the quarter later this week.

"The situation in France appears to be going from bad to worse, with the prospect that the UK could follow the example of Germany last week and impose entry restrictions at the French border as authorities there struggle with surging cases of the Brazil and South African variant.

"With now over 30m Britons having received their first dose of a Covid-19 vaccine the UK government will be only too aware of how delicate a stage the UK reopening process is currently, with all non-essential shops due to reopen two weeks from today."

In corporate news, financial services platform AJ Bell lifted full-year revenue guidance as it continued to see rising customer numbers in the first half.

The company said it expected revenue for the 12 months to September 30 to be at least £6m higher than its own compiled forecasts of £136m.

Elsewhere, Domino's Pizza has agreed to sell its Iceland business for ISK2.4bn (13.7m).

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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