What happened yesterday?
The UK is expecting a positive week as restrictions begin to ease in England. From today non-essential shops, gyms, hairdressers and hospitality with outdoor areas will reopen to customers.
Spectators will take interest this week in US defence secretary Lloyd Austin’s visit to Germany and further afield in the retiral of 89-year-old Raul Castro in Cuba, who is set to cede power to a younger generation on Friday when the Communist party congress meets.
In corporate activity, investors will be watching closely as JPMorgan Chase and Citigroup report this week. Senior executives at both companies suggested in January that “the tide would turn” as they had healthy pipelines of investment.
Results from Tesco and luxury brand owner LVMH will also be ones to watch this week.
In company news:
BP reported stronger results than expected from its first quarter due to higher oil prices, achieving its debt reduction target ahead of schedule and announcing it would resume share buybacks in the second quarter up to the value of $500m. Its shares, however, closed 0.42% down.
Software firm Aveva dropped by 5.43% despite reporting a double-digit revenue growth for the second half of its financial year.
HSBC’s share price rose by 4.18% after its first quarter profits more than doubled compared to a year ago.