FTSE lifted by housebuilders and aerospace names
|A ten-point gain marks the limit of the FTSE 100’s upward move for the day, but IAG and Rolls-Royce have risen along with UK housebuilders.
The new week has begun in a similar fashion to the last one, with investors awaiting bigger events later in the week that will hopefully spark some more movement. The post-NFP reaction saw indices end the week in stronger form, but thanks to some hesitancy around China’s trade data there has not been much continuation from Friday’s bounce. Beyond the day-to-day drama (or lack of it) equities should keep drifting higher, since so far there are few reasons to spark a major selloff, but the FOMC meeting next week might yet provide one if the messaging changes dramatically.
UK housebuilders have bounced in the wake of strong Halifax house price data, while it looks like some optimism has returned to airline stocks and associated engineering firms following last week’s stumble thanks to changes regarding UK holiday travel. Transient inflation notwithstanding, the overall outlook should see demand for flights and planes pick up over time, as the global economy slowly recovers from the pandemic.
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