FTSE 100 ends lower after three sessions of gains on weakness in banking, mining stocks
EWU•The FTSE 100 fell 1.1% to 10,764.69 on Monday, ending three sessions of gains, while the FTSE 250 slipped 0.6%. Barclays dropped 3.5% and miners also weighed on the benchmark.
1. London indexes retreat
The FTSE 100 fell 1.1% to 10,764.69 points on Monday, ending a three-session winning streak. The FTSE 250 slipped 0.6%, snapping six sessions of gains.
2. Banks and miners weigh
Barclays fell 3.5% after it was reportedly being examined by the Bank of England over whether traders misrepresented illiquid private credit loans to understate their risk. Anglo American fell 4.1% and Glencore lost 3.3% as copper prices dipped; the broader banking sector fell 2.3%.
3. Company moves and outlook
Serica Energy fell 2.6% after flagging another delay to the restart of its Triton production vessel and lowering its annual production forecast. Mulberry gained 2.6% after reporting an 18% rise in first-half sales. Investors were watching for UK September inflation and retail sales figures this week.
