FTSE 100 called to open higher, and City waits for results from retail and office firms

The FTSE 100 is called to open higher

(AFP via Getty Images)

The FTSE 100 is being called to open higher, adding to gains made yesterday, it was predicted on a day where results from businesses in the property and retail sectors were due.

Yesterday, helped partly by oil firms, the top-flight index gained 27.54 points to 7108.

IG expects the blue chip index to open 16 points higher at 7124.1.

Results due this morning include from offices firm Workspace. It should show how it has been impacted by the working from home guidance during the pandemic, and update on how demand is currently looking.

Retail landlord NewRiver should also update on how it has been impacted by the virus crisis. In addition, B&M, the discount retailer which sells everything from groceries to homeware products, is due to post full year figures.

Elsewhere today, a report has come out from Springboard, which said indoor dining did not serve up the hoped for rise in footfall in May.

It said footfall has strengthened since non-essential retailers could open in April, but further gains following the reopening of indoor hospitality last month were muted.

Footfall was 27.5% lower than the 2019, pre-pandemic level, compared with -32.7% in April.

The research pointed out that May was the wettest on record which “inevitably lowered the initial exhilaration of consumers in being able to eat out as even visiting indoor environments necessitated braving the weather”. It added that the limitations on dining capacity in indoor venues inevitably means that the uplift in footfall generated has been limited.

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