AIRLINK 69.92 Increased By ▲ 4.72 (7.24%)
BOP 5.46 Decreased By ▼ -0.11 (-1.97%)
CNERGY 4.50 Decreased By ▼ -0.06 (-1.32%)
DFML 25.71 Increased By ▲ 1.19 (4.85%)
DGKC 69.85 Decreased By ▼ -0.11 (-0.16%)
FCCL 20.02 Decreased By ▼ -0.28 (-1.38%)
FFBL 30.69 Increased By ▲ 1.58 (5.43%)
FFL 9.75 Decreased By ▼ -0.08 (-0.81%)
GGL 10.12 Increased By ▲ 0.11 (1.1%)
HBL 114.90 Increased By ▲ 0.65 (0.57%)
HUBC 132.10 Increased By ▲ 3.00 (2.32%)
HUMNL 6.73 Increased By ▲ 0.02 (0.3%)
KEL 4.44 No Change ▼ 0.00 (0%)
KOSM 4.93 Increased By ▲ 0.04 (0.82%)
MLCF 36.45 Decreased By ▼ -0.55 (-1.49%)
OGDC 133.90 Increased By ▲ 1.60 (1.21%)
PAEL 22.50 Decreased By ▼ -0.04 (-0.18%)
PIAA 25.39 Decreased By ▼ -0.50 (-1.93%)
PIBTL 6.61 Increased By ▲ 0.01 (0.15%)
PPL 113.20 Increased By ▲ 0.35 (0.31%)
PRL 30.12 Increased By ▲ 0.71 (2.41%)
PTC 14.70 Decreased By ▼ -0.54 (-3.54%)
SEARL 57.55 Increased By ▲ 0.52 (0.91%)
SNGP 66.60 Increased By ▲ 0.15 (0.23%)
SSGC 10.99 Increased By ▲ 0.01 (0.09%)
TELE 8.77 Decreased By ▼ -0.03 (-0.34%)
TPLP 11.51 Decreased By ▼ -0.19 (-1.62%)
TRG 68.61 Decreased By ▼ -0.01 (-0.01%)
UNITY 23.47 Increased By ▲ 0.07 (0.3%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 7,394 Increased By 99.2 (1.36%)
BR30 24,121 Increased By 266.7 (1.12%)
KSE100 70,910 Increased By 619.8 (0.88%)
KSE30 23,377 Increased By 205.6 (0.89%)
Markets

London's FTSE 100 hits one-month low; Morrisons surges 31%

  • Britain's top central bank officials look set to remain divided this week over whether to pull the plug on their 875 billion-pound ($1.2 trillion) government bond purchase programme.
Published June 21, 2021

London's FTSE 100 fell to a one-month low on Monday, as losses in travel and mining stocks outweighed gains in retail shares, while supermarket chain Morrisons was the top gainer on the mid-cap index following a takeover pursuit.

Morrisons surged 31.7% as US private equity firm Clayton, Dubilier & Rice (CD&R) was set to push ahead with its takeover pursuit, despite its initial offer being rejected.

The blue-chip index fell 0.3% to its lowest since May 19. Travel stocks declined the most, down nearly 7.5%, while miners slid 1.7%.

The domestically focussed mid-cap index slipped 0.2%.

"The bulls in the market have enjoyed a good long run and it must come to an end at some point, and we are seeing a little bit of rebalancing which is leading to some weakness," said Michael Baker, an analyst at ETX Capital.

A recent spike in inflation that surged past the Bank of England's target in May raised concerns among investors that the central bank could pull back its monetary support in a meeting due later this week.

"Central bank commentaries have changed the market view on inflation and it is a concern right now that the monetary support might be coming to an end," added Baker.

Britain's top central bank officials look set to remain divided this week over whether to pull the plug on their 875 billion-pound ($1.2 trillion) government bond purchase programme.

Asking prices for British homes between mid-May and early-June rose by 0.8%, compared with a month before, the biggest rise for the time of year since 2015, as available housing remains in short supply, property website Rightmove said.

Outsourcer Capita gained 6.0% after it said it was on track to post revenue growth for the first time in six years and agreed to sell its 51% stake in Axelos, a joint venture with the UK Cabinet Office.

Comments

Comments are closed.