he FTSE 100 Index was set to jump around 20 points when it opens today as financial markets took a relaxed view towards the expected four week Covid lockdown extension.
Boris Johnson is expected to announce the current measures will be extended by another month in the hope that delaying an end of restrictions will give time for more younger people to get vaccinated and prevent the need for U-turns in future months.
While the move will hit profits in the hospitality industry in the short term, it is hoped that it will avoid a repeat of the situation last year when restrictions were released, then rapidly reinstated before Christmas, making it impossible for restaurants and hotels to plan stock and staffing levels.
Nonetheless, trade associations were warning gravely of the need for more help to stave off financial disaster, with UK Hospitality warning its sector would lose £3 billion in sales from a one-month delay.
Emergency support is due to be phased out soon with business rates payments set to recommence for the sector and furlough payments being reduced. The moratorium on…
