London pre-opening: Shares will rise ahead of Biden budget
London stocks are expected to rise at the opening on Friday as investors focus on US President Biden’s spending plans, though travel and leisure concerns could be hampered after Prime Minister Boris Johnson questioned the all Covid restrictions lifted next month.
The FTSE 100 was called to open 24 points at 7,044.
Johnson said on Thursday that “we may have to wait” and that all Covid restrictions may not be lifted on June 21 as planned due to the release of the Indian variant. As a result, the values ââof travel and leisure could be affected.
Investors will also ensure the unveiling of Joe Biden’s expected $ 6 billion budget. IG Market analyst Joshua Mahony said the budget includes “huge” provisions for infrastructure projects.
âThe past year saw infrastructure spending in China generate significant gains for commodities, but Biden’s plans highlight how that role could be gradually shared with Western countries as green infrastructure spending grows. ‘implant,’ he said. “The recent declines in commodities such as copper and iron ore have been sparked by fears that China is cracking down on speculative practices that have driven prices up.”
In the news of the company, AG Barr said trade in the current fiscal year was encouraging and in line with expectations following the easing of lockdown restrictions for the hospitality industry.
The beverage maker said sales of non-alcoholic drinks were supported by new product launches and its Funkin line of cocktails performed strongly. AG Barr said he was confident about the outlook for the year ending in January.
UK based housing and healthcare real estate investment fund Civitas said he bought 10 properties to live in in Hertfordshire, Essex, Suffolk and Wales for Â£ 8.6million.
The portfolio offers adapted homes as well as personalized specialist care for 41 people with complex mental health needs, administered by three care providers who already work in other properties in the Civitas portfolio, the company said.
The buildings are let with rents adjusted annually according to the CPI over the entire term and are subject to a lower inflation limit of 0% per year and a maximum indexation of 4% per year.