Brexit is hitting hard to the UK, even with the trade deal. EU paperwork requirements, Covid-19 restrictions cause long, lack of customs agents causing long waits for transporters. The cost of moving goods increase by %40 percent relative to last three quarters’ average. The number of unique ships visiting the UK’s top 10 major ports remained suppressed, even with positive seasonality the number is near Covid-19 April crisis levels.
FTSE 100 remain well below relatively to other major indexes of developed countries. Currently the price is capped below the 50-day moving average. Covid-19 mutation and hard restrictions, Brexit despite the EU deal is pressuring the upside moves. 7000 may become the key resistance level for the medium-term if the index to go higher.
