FTSE 100 set for positive start as markets shrug off latest rise in COVID-19 case numbers

The FTSE 100 is set to start Thursday on the front foot whilst sentiments to and through between stimulated positivity and second wave worry. In London, the blue-chip benchmark is seen nearly 30 points higher IG Markets making the price at 6,183 and 6,186 with just over an hour to go until Thursday’s open. Yesterday’s mini-budget from chancellor of exchequer Rishi Sunak supported the market, but, on the world stage attentions remain on the evident pockets where COVID-19 are again increasing as economic activity ramps back up. “Traders in this part of the world continue to monitor the situation in the US, where the majority of states continue to see the number of new Covid-19 cases increase,” said David Madden, analyst at CMC Markets. “As of yesterday, the number of confirmed cases in the US exceeded 3 million. “On Tuesday, the WHO cautioned there could be an increase in the fatality rate as there has been a rise in infections, but the death rate so far has lagged.” That latest Chinese economic stats (June CPI) arrived precisely on the market’s forecasts and expectations helped investor sentiments on the positive side, meanwhile, attentions will later today focus on German (trade) and US (weekly jobs) data. Wednesday saw Wall Street benchmarks market positive sessions. The Dow Jones climbed 0.68% to end at 26,067, whilst the S&P 500 was 0.78% higher at 3,169. The Nasdaq was up 1.44% closing at 10,492 and the small cap focussed Russell 2000 advanced 0.81% to complete the day’s trading at 1,427. In Asia, meanwhile, Japan’s Nikkei gained 124 points or 0.55% to 22,562 while Hong Kong’s Hang Seng similarly rose by 108 points or 0.4% to 26,237 and the Shanghai Composite moved 1.28% higher to 3,447. Around the Markets The pound: US$1.2632, up 0.17% Gold: US$1,811 per ounce, up 0.09% Brent crude: US$43.28 per barrel, up 0.46% WTI: US$40.85 per barrel, up 0.56% Bitcoin: US$9,391, down 0.78%