U.K. stocks were moving lower in cautious trade on Friday as investors awaited U.S. non-farm payrolls data for May due later in the day for further clues on economic recovery and the upside risks to inflation.
Amid increasing bets over possible tapering of stimulus, market participants also looked ahead to the Fed and the European Central Bank policy meetings next week for directional cues.
The benchmark FTSE 100 dropped 15 points, or 0.2 percent, to 7,049 after falling 0.6 percent the previous day.
British Airways-owner IAG declined 1.5 percent, Wizz Air Holdings tumbled 3.4 percent and easyJet gave up 1.8 percent as Britain added seven more countries to its “red list” of destinations that require hotel quarantine on return to England.
Ryanair shed 1.4 percent. The chief executive of the airline expects there to be unrestricted movement between Europe and Britain from July onwards.
AstraZeneca shares were little changed. The drug major has announced the appointment of Aradhana Sarin as an Executive Director and Chief Financial Officer.
Mondi Plc., a packaging and paper company, shed half a percent. The company has signed a new 750 million euros 5-year revolving multicurrency credit facility agreement to refinance the existing 750 million euros facility that was due to mature in July 2022.
In economic releases, the U.K. construction sector expanded for the fourth straight month in May to show the strongest output growth for just under seven years, according to survey results published by IHS Markit.
The Chartered Institute of Procurement & Supply construction Purchasing Managers’ Index rose to 64.2 in May from 61.6 in April.
FTSE 100 Dips Ahead Of US Jobs Report
2021-06-04 09:19:20
