FTSE 100 Modestly Lower In Cautious Trade
(RTTNews) - U.K. stocks are exhibiting weakness on Monday, in line with other major markets in Europe, as rising bond yields and uncertainty about global economic and interest rate outlook continue to weigh on sentiment.
The benchmark FTSE 100 was down 26.91 points or 0.33% at 8,221.58, coming off an early low of 8,207.67.
Pearson, IAG, Smith (DS), Rolls-Royce Holdings, Easyjet and M&G are down 2 to 3.4%.
Fresnillo, Relx, Melrose Industries, Diageo, Diploma, Scottish Mortgage, 3i Group, Hikma Pharmaceuticals, Informa and Games Workshop are lower by 1.4 to 1.9%.
Rentokil Initial is rising 2.7%. Entain is climbing up 2% on strong earnings forecast, while Glencore, Shell, Centrica, Intermediate Capital Group, BP and Bunzl are advancing 1 to 1.4%.
The yield on the UK 10-year gilt climbed the highest level in over 16 years, rising to 4.9%, amid fading prospects of significant rate cuts by the Bank of England this year due to persistent concerns over inflation and economic uncertainties.
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