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FTSE 100 set to edge higher as England dares to dream of Euros victory

·2-min read
Fans watch England v Germany (PA Wire)
Fans watch England v Germany (PA Wire)

The FTSE 100 Index was set to inch higher today as Cityspirits were lifted by England’s victory over Germany and investors sought out stocks which could be winners.

ITV was seen as the most obvious with all to gain, as football fans will be glued to every match it screens for intelligence on England’s rivals as the tournament goes on.

Deliveroo and JustEat should see their shares rise. The latter led the FTSE 100 last night going into the kickoff. It is the sponsor of the tournament and, with England as one of its biggest markets, should benefit as people stay in to watch the games due to social distancing rules in pubs.

Likewise, Dominos, the pizza delivery giant, was being fancied ahead of the game and should have further to run.

Gambling group Flutter Entertainment could be a winner, and has already seen gains in anticipation of a Euros fillip.

Pubs with big outdoor spaces should prove popular venues to watch the games, but the bigger groups, possibly the likes of Wetherspoons, without suitable beer gardens could suffer as people opt to watch at home or at rival establishments which do.

The FTSE 100 was set to open up 6 points at 7095, according to futures markets, but with 68% of traders on the IG platform betting it would go further, don’t be surprised to see better gains.

Bitcoin is having a flat time of it this week. Over the past 24 hours it has moved up only 0,79% to $34,883.

As ever, nobody knows why. One of the leading crytpo platforms, Binance, has been effectively banned by the UK regulator, the Financial Conduct Authority, but the currency barely moved.

When fundamental events that should affect the value have less impact than a tweet or two from a billionaire, some might question its credibility as an investment asset.

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