Thursday, 06 May 2021 06:27 PM MYT
The blue-chip index rose 0.2 per cent, with fashion retailer Next gaining 2.6 per cent as it raised its profit outlook for the 2021-22 year for the second time in two months. “The question, of course, is when would the tapering occur — if it occurs this year and next year, it might be conditional on; for example inflation target or some other target going forward, so no hurry,” said Sebastien Galy, senior macro strategist at Nordea Asset Management.
After rising more than 9 per cent year-to-date on optimism about a stronger economic reopening from pandemic-driven recession last year, the FTSE 100 has traded in a tight range since April on concerns central banks might pull their monetary support sooner than expected as inflation rises.