London was stable before Biden’s inauguration

LONDON (awp / dpa) – The London Stock Exchange was almost stable (-0.06%) on Wednesday morning, cautious on the prospect of an economic recovery and awaiting the appointment of Joe Biden at the White House later in the day. .

At 08:30 GMT, the FTSE-100 index of major stocks lost 4.13 points to 6,708.82 points.

Investors will turn their gaze to Joe Biden’s inauguration ceremony, which will take place after European markets close the day late.

“Investors will want to stabilize his $ 1.9 trillion budget plan for what he will change to Trump-era policies,” said Naeem Aslam, an analyst at Avtrad.

At a Senate hearing on Tuesday, Janet Yellen, the Treasury’s next secretary of state, called for “great thinking” in response to the economic crisis caused by the epidemic, so public concerns about the deficit should be postponed.

For the rest, the markets were cautious due to the strength of the epidemics and the risks of seeing the economic recovery in Europe delayed despite the use of vaccines.

“Investors are not yet convinced that we are out of the woods. The path to recovery is long and full of obstacles,” the analyst warns.

BURBERRY GRIMPE (+ 5.09% to 1,826.50 pence). The luxury group suffered a slump in sales as stores closed at the end of 2020, but its operations are experiencing a strong recovery in Asia.

DIXONS CARPHONE return (-1.51% to 121.54 pence). Electronics and telephone chain saw a 40% decline in its mobile sales during the critical period from November to early January.

Weatherspoon on the Rice (+ 3.63% to 1,226.00 pence). The pub brand has raised nearly $ 100 million in new money, which should allow it to bear the brunt of the next few months despite the closure of its companies due to a third prison in the UK.

jbo / els