FTSE 100 Records Lower Losses

(RTTNews) - The FTSE 100 benchmark of the London Stock Exchange outperformed its peers in the region with lower losses in the wake of the sharp escalation in Middle East tensions over the course of the weekend. The FTSE 100 benchmark of the London Stock Exchange is trading with losses of close to a quarter percent whereas Germany's DAX declined more than half a percent and France's CAC 40 declined close to a percent.

The uptick in PMI readings from both the manufacturing sector and the services sector helped limit losses. While manufacturing PMI exceeded expectations, the services PMI matched market consensus.

The FTSE 100 which had closed at 8,774.65 on Friday traded between 8,787.06 and 8,741.40 on Monday.

The index is currently trading at 8,748.49, having lost 0.30 percent from the previous close.

In the 100-scrip index, only 29 scrips are trading in the overnight green zone. Convatec Group topped gains with a surge of 3.2 percent. Endeavour Mining followed with gains of 1.6 percent.

J.D. Sports Fashion declined 3.2 percent. Intermediate Capital Group has also lost close to 3 percent.

With safe-haven demand boosted by the dramatic escalation in the Middle East conflict, the U.S. Dollar has strengthened. The Dollar's strength dragged down the GBP/USD pair 0.48 percent to 1.3386. The sterling ranged between $1.3449 and $1.3371 in the day's trade. The EUR/GBP pair traded flat at 0.8568. The GBP/JPY pair has rallied 0.56 percent to 197.61.

Unlike ten-year government bonds in Germany and France that have witnessed a spike in yields, ten-year bond yields in the U.K. have declined 0.44 percent to 4.5210 percent. The yields ranged between 4.5750 percent and 4.5170 percent over the course of the day. The same was at 4.5410 percent a day earlier.