London stocks were set to fall at the open on Friday despite US President-elect Joe Biden’s announcement of a $1. 9 trillion Covid relief package, amid ongoing worries about the pandemic.
London open The FTSE 100 is expected to open 26 points lower on Friday, having closed up 0. 84% on Thursday at 6,801. 96.
The business secretary, Kwasi Kwarteng, has said companies must redouble efforts to ensure employees work from home unless their work is critical and cannot be done offsite, as the TUC urged the government to step up enforcement. Calls are growing for the government to rethink allowing construction sites to continue as normal and to permit only those whose operations are vital, with several industry employees telling the Guardian that safe practice has become impossible on sites.
Defence and aerospace engineer Meggitt said it expected full year results to be in line with expectations but cautioned that the expected recovery in air travel from the Covid pandemic would take longer than expected.
Aveva said it was confident in its outlook for annual results after a "strong" third quarter improved revenue growth to about 1. 5% in the first nine months of the year.