FTSE 100 ends lower after three sessions of gains, on weakness in banking, mining stocks
FTSE 100 ends lower after three sessions of gains, on weakness in banking, mining stocks Updates to market close
Oct 19 (Reuters) - London's FTSE 100 closed down on Monday, dragged by Barclays, which fell after a report said that the Bank of England was probing the lender, while weakness in miners added further pressure.
The blue-chip FTSE 100 index .FTSE fell 1.1% to 10,764.69 points after three consecutive sessions of gains. The midcap FTSE 250 .FTMC slipped 0.6%, snapping a six-day winning streak.
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Unilever ULVR.L agreed to sell its Welly bandage brand to private-equity firm Forward Consumer Partners, the Wall Street Journal reported after markets closed
Barclays BARC.L fell 3.5% as a report by The Financial Times said the Bank of England was examining whether the lender's traders misrepresented illiquid private credit loans to understate their risk
The broader sector .FTNMX301010 was down 2.3%
Anglo American AAL.L and Glencore GLEN.L fell 4.1% and 3.3%, respectively, among the benchmark's biggest drags, as copper prices dipped
Industrial metal miners .FTNMX551020, aerospace and defence stocks .FTNMX502010 and utilities .FTUB6510 were also down more than 2% each
Investors will be watching for UK September inflation and retail sales figures this week, just as earnings season gets underway
Finance Minister John Healey's first budget speech is due next week. According to media reports, income tax on family business transfers and windfall taxes on banks are expected.
Asking prices for British homes rose in October amid signs that rising mortgage rates — caused by the war in Iran — were starting to weigh on affordability and more resilient parts of the market, property website Rightmove said
Serica Energy SQZ.L fell 2.6% after flagging a further delay to the restart of its Triton production vessel and lowering its annual production forecast
Luxury handbag maker Mulberry MUL.L gained 2.6% after reporting an 18% jump in first-half sales.
Volex VLX.L bottomed the FTSE 250 after its half-year trading update, while Pets at Home PETSP.L rose about 6.7% after Peel Hunt's rating upgrade
Risk appetite was subdued in Europe as investors weighed political uncertainty in France
In the broader London market, decliners outnumbered advancers by a 2-to-1 margin
(Reporting by Darshan Kumar and Medha Singh in Bengaluru; Editing by Harikrishnan Nair and Diti Pujara)