The London stock exchange started the week with declines. The FTSE 100 index fell by 0.11%, and the FTSE 250 by 0.12%. Weakness was particularly evident in automotive stocks; the sector as a whole experienced a 1.6% decline. Aston Martin stood out with a 3.2% loss.
The strengthening of the pound against the dollar put pressure on export-oriented companies. Investors continue to price in fiscal policy uncertainties following Friday’s high debt figures. In contrast, mining stocks rose sharply. Following gold reaching record highs, precious metals producers were the top gainers of the day, rising 5.1%. Fresnillo rose 4%, Hochschild 8.8%, while Glencore and Rio Tinto also closed higher.
On the other hand, airlines declined due to flight delays caused by cyberattacks in Europe. EasyJet, IAG, and Wizz Air fell between 1.3% and 1.5%. Food ingredients producer Tate & Lyle fell 6%, showing the weakest performance on the FTSE 250.Investors are now watching the statements of Fed officials. Five different officials will speak on Monday, with Jerome Powell taking the stage on Tuesday.
