Good afternoon, you’re with me Katie Pilbeam for the market wrap this Friday.
The FTSE looks set to wrap up the week in the red despite global bourses hitting record highs after US President Joe Biden signing his $1.9 trillion stimulus package. Official figures showing a better-than-expected January for the UK economy had little impact here in the British capital.
Much of the attention is on trade, after the Office for National Statistics reported UK goods exports to the European Union fell 40.7% in January, while imports tumbled 28.8%. These are the first official figures since the new trading rules between the UK and the EU came into force and show the biggest drop since records began, back in 1997.
For the week ahead, Ocado, Greggs, Fevertree as well Antofagasta and publican Wetherspoons and the Gym Group are all reporting numbers. Greggs PLC (LON:GRG) has already told the market it expects its loss before tax for 2020 to be as much as £15mln.
And Central banks will be in focus with the US Federal Reserve announcing its policy decision on Wednesday, the Bank of England on Thursday and the Bank of Japan on Friday.