The FTSE 100 is down by 0.46% to 7,089 on Monday. It could have been a lot worse given how investors’ nerves were tested last week with a big sell-off linked to concerns over the strength of the global economic recovery.
“There is a repeat of the same stocks driving down the market – banks, miners and oil producers, all of whom are bellwethers for the state of the economy,” said Russ Mould, investment director at AJ Bell.
“Utilities and real estate were the only sectors in the FTSE 100 pushing ahead on Monday, whereas the FTSE 250 fared a bit better.”
The UK mid cap index avoided any sell-off and traded flat at 22,890, with real estate, consumer non-cyclicals, technology and financials as the strongest performing sectors.
“The UK is now only a week away from the so-called ‘Freedom Day’ where most of the remaining Covid restrictions will be dropped. However, there are growing fears that removal of these restrictions could lead to a resurgence in infections and put the country in a dangerous situation.”
FTSE 100 Top Movers
Admiral Group (4.2%), Ocado Group (1.44%) and Segro (1.37%) are the top performers on the FTSE 100 during the morning session on Monday.
At the other end, Rolls-Royce (-2.81%), IAG (-2.55%) and Whitbread (-2.39%) make up the bottom three of the UK index.