A look at the sign for the London Stock Exchange in the City of London as the FTSE 100 index slipped down Monday (Kirsty O’Connor / PA)
By PA City Staff
The London stock markets fell into the red despite being lifted out of lockdown restrictions by the Prime Minister’s « roadmap » late afternoon.
Hospitality and recreational inventories were reduced by an update that included non-essential retailers and hospitality in the Reopening outdoors in April, largely strengthened.
Markets across Europe were in the red after a gloomy morning, but had risen higher when the recovery plan was drawn up.
The FTSE 100 closed 11.78 points or 0.18% and stood at 6,612.24 on Monday.
Michael Hewson, Chief Market Analyst at CMC Markets, said: “European markets got off to a disappointing start to the week as the rise in Bes orgnis of rising bond yields and the statements about the economic outlook are triggering some profit-taking, particularly in US markets on their way to their fifth straight daily decline.
“Both the FTSE 100 and FTSE 250 will started reducing their losses after the Prime Minister gave Parliament the details of the suspended UK route map.
« The oil and gas sector has helped in some ways, aided by the continued resilience of oil prices. »
In other parts of Europe, the major indices were also slightly lower when the German Dax succumbed to a new three-week low.
On the other side of the Atlantic, the Dow Jones opened a touch lower than traders continued to do watch for progress on President Joe Biden’s financial incentive plan.
In the meantime, the pound scored against an unru Higen dollar gains as traders also showed positive sentiment regarding the loosening of lockdown restrictions.
The pound rose 0.48% against the US dollar to 1.408 and rose 0.15% against the euro to 1.158.
In corporate news, shares in security giant G4S fell after its two takeover buyers announced they would not raise their bids, bringing the auction to a dreary end for investors.
Canadian security giant GardaWorld and US Rivals Allied Universal have announced they will not raise their respective £ 3.7 billion and £ 3.8 billion bids, leaving Allied the winner.
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But shares fell 26.4p to 242.6p after the announcement poured cold water in hopes of a bidding war.
Bread and cake supplier Finsbury Food Group fell after backing off revealed that Group sales declined in the six months leading up to Christmas as caterers were hit hard by pandemic restrictions.
The stock closed 2.5p lower at 71.5p after posting a 4p decline in half-year sales. Elsewhere, Mitchell’s & Butlers, owner of All Bar One, rose to the top as he announced the official start of a £ 351 million fundraiser to his balance sheet to support. Shares fell 14.5p to 337.5p.
Oil prices rebounded from last Friday lows as ongoing supply concerns outweighed demand concerns.
The biggest movers on the FTSE 100 were IAG, up 12.35 pence to 178.1 pence, Rolls-Royce, up 6.79 pence to 105.45 pence, Informa, up 27.6 pence to 536.6 pence, and Compass up 60 pence to 1,486 pence.
The biggest declines in the FTSE 100 were Ocado, down 158 pence to 2,401 pence, Scottish Mortgage Investment Trust, down 79 pence to 1,267 pence, Just Eat Takeaway with minus 342 pence to 7,166 pence and Smith & Nephew minus 58.5 pence to 1,415 pence.
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