FTSE 100 should open higher as the final lock easing nears

The FTSE 100 was scheduled to open higher on Friday, after hitting its highest level in more than a year yesterday.

Momentum improved before Monday, when the lockdown begins to ease further. From that date, “ non-essential ” retailers, such as clothing and jewelry brands, can reopen stores, and pubs and restaurants can open to serve people outside.

London’s blue chip index rose 56.9 points yesterday to 6,942.22, its highest level since late February 2020.

CMC Markets traders today expected the FTSE 100 to open 8 more points at 6950.

Michael Hewson, chief market analyst at CMC Markets UK, said: “It has been another record week for the stock markets in recent days with new highs for the S & P500, DAX, Stoxx600 and FTSE250.”

He added: “European markets are expected to open into positive territory this morning as they look to continue where they left off yesterday.”

This morning, investors can look to airlines and vacation companies to digest the latest news from Transportation Secretary Grant Shapps.

A framework for tracking the safe return of international travel has been defined today.

The government has said that a traffic light system, which would categorize countries based on risk as well as travel restrictions required, will be put in place to protect the public and the vaccine rollout against international variants of COVID- 19.

More details here.

It is expected that, in early May, the government will define which countries will fall into which category, and will confirm whether international travel can resume from May 17.

In the meantime, later this morning, the Halifax House Price Index for March will be released. This should shed light on average UK house prices in a month the budget delivered news that could boost the housing market, such as an extension of the stamp duty holiday period.