The FTSE 100 is down by 0.13% during the morning session on Tuesday as the UK index appears to be struggling for direction.
“The FTSE 100 was heading nowhere fast on Tuesday, starved of any obvious catalysts on the corporate and economic front” says AJ Bell financial analyst Danni Hewson.
Travel and hospitality stocks helped boost the FTSE 100 as concerns over Covid appeared to subside temporarily.
“Concerns about the spread of the Delta variant seem to wax and wane as often as the weather and a slightly sunnier mood to match the meteorological conditions in the UK helped the travel sector eke out some modest gains early on,” said Hewson.
Also helping sentiment was a steady performance overnight for Asian stocks and a strong showing on Wall Street.
“All eyes remain on the Jackson Hole meeting at the end of the week with the markets likely ferreting around for clues on what central bankers will do next on financial stimulus and interest rates and, crucially, when.”
FTSE 100 Top Movers
Whitbread (2.5%), IAG (2.44%) and Flutter Entertainment (2.23%) are leading the way on the FTSE 100 during the morning session on Tuesday.
Trailing the pack of 100 are Sainsbury’s (-1.82%), Avast (-1.61%) and HSBC (-1.37%).