London close: Stocks weaker even as England begins reopening

(Sharecast News) - London stocks closed in negative territory on Monday, even as England's economy began to open up again after the third national lockdown, with investors cautious ahead of the US earnings season.
The FTSE 100 ended the session down 0.39% at 6,889.12, and the FTSE 250 was 0.44% weaker at 22,153.55.

Sterling was stronger, meanwhile, last gaining 0.23% on the dollar to $1.3738, and advancing 0.21% against the euro to €1.1539.

Monday marked the first time non-essential retailers, gyms, hairdressers, and pubs and restaurants with outdoor spaces could open in England in months.

"After a good week, equities are looking a little more hesitant today, with caution prevailing as markets await the start of US earnings season," said IG chief market analyst Chris Beauchamp.

"The prospect of a steady flow of corporate updates offers at least a welcome change from the stimulus and yields focus of the past two months, but with markets having already rallied hard there are understandable fears that the figures will not meet expectations, giving investors an excuse to cut back on risk.

"The reopening of shops and pubs across England has not produced much of a reaction in the FTSE, which has edged lower throughout the day, while curiously European markets have retained more of their poise even as the continent contemplates the extension of lockdowns in places such as Germany."

On home shores, there was some good news for retailers as the latest figures from analysts Springboard showed that as at 1000 BST, footfall across all UK destinations was up 218.2%.

Footfall at shopping centres was 339.7% higher, while high streets and retail parks saw increases of 232.8% and 58.2% on the week.

In equity markets, shopping centre owner Hammerson was down 2.92% after confirming it was in talks with Canadian private equity firm Brookfield on a possible sale of its retail parks.

Brookfield was prepared to pay around £350m for seven retail parks, according to the Sunday Times.

EasyJet descended 3.87% after HSBC cut its stance on shares of the budget airline to 'hold'.

Online supermarket Ocado and online electricals retailer AO World - both of which have benefitted from Covid-related lockdowns and restrictions - were lower as lockdown eased.

Ocado was down 2.33%, and AO World lost 5.24%.

AstraZeneca reversed earlier gains to close 0.85% in the red, after it reported that a trial of its Farxiga drug for treating hospitalised Covid-19 patients did not produce statistically significant results.

Market Movers

FTSE 100 (UKX) 6,889.12 -0.39%
FTSE 250 (MCX) 22,153.55 -0.44%
techMARK (TASX) 4,289.14 -1.04%

FTSE 100 - Risers

Lloyds Banking Group (LLOY) 44.39p 2.62%
Just Eat Takeaway.Com N.V. (CDI) (JET) 7,371.00p 2.02%
Admiral Group (ADM) 3,212.00p 1.97%
Bunzl (BNZL) 2,450.00p 1.70%
Coca-Cola HBC AG (CDI) (CCH) 2,454.00p 1.70%
United Utilities Group (UU.) 972.00p 1.48%
Barclays (BARC) 188.30p 1.40%
Severn Trent (SVT) 2,436.00p 1.25%
Compass Group (CPG) 1,577.50p 1.22%
BP (BP.) 298.40p 1.15%

FTSE 100 - Fallers

Rolls-Royce Holdings (RR.) 108.46p -3.06%
Rightmove (RMV) 600.60p -2.88%
Kingfisher (KGF) 334.20p -2.82%
Taylor Wimpey (TW.) 184.80p -2.76%
Persimmon (PSN) 3,125.00p -2.65%
Next (NXT) 8,100.00p -2.36%
BAE Systems (BA.) 505.00p -1.94%
B&M European Value Retail S.A. (DI) (BME) 536.60p -1.94%
Ocado Group (OCDO) 2,110.00p -1.86%
Anglo American (AAL) 3,028.00p -1.78%

FTSE 250 - Risers

Babcock International Group (BAB) 242.00p 3.73%
Dunelm Group (DNLM) 1,417.00p 3.20%
Elementis (ELM) 124.10p 3.16%
TBC Bank Group (TBCG) 1,098.00p 2.62%
BMO Global Smaller Companies (BGSC) 163.60p 2.38%
TI Fluid Systems (TIFS) 296.00p 2.07%
Just Eat Takeaway.Com N.V. (CDI) (JET) 7,371.00p 2.02%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 452.00p 1.80%
TP Icap Group (TCAP) 246.05p 1.80%
GCP Infrastructure Investments Ltd (GCP) 104.80p 1.75%

FTSE 250 - Fallers

NCC Group (NCC) 269.00p -5.78%
AO World (AO.) 310.80p -5.24%
FirstGroup (FGP) 89.85p -5.02%
TUI AG Reg Shs (DI) (TUI) 372.60p -4.22%
Cineworld Group (CINE) 99.84p -3.49%
easyJet (EZJ) 939.40p -3.43%
Games Workshop Group (GAW) 10,140.00p -3.43%
Mitchells & Butlers (MAB) 313.80p -3.33%
Carnival (CCL) 1,679.20p -3.29%
Hammerson (HMSO) 36.19p -3.18%