U.K. stocks fell on Monday as investors fretted about slowing global growth and the EU digital tax proposal, with U.S. Treasury Secretary Janet Yellen urging the EU to shelve the proposal, saying the new global reform deal should make it redundant.
Meanwhile, Prime Minister Boris Johnson will host a press conference today where he is expected to push ahead with the next stage of unlocking.
The benchmark FTSE 100 dropped 43 points, or 0.6 percent, to 7,079 after gaining 1.3 percent on Friday.
Shares of Daily Mail & General Trust advanced 1.7 percent. The media group said that its controlling shareholder, Rothermere Continuation Ltd., is considering a bid for the remaining assets of the group, if the sales of its insurance risk unit and Cazoo business go through.
Tate & Lyle, a supplier of food and beverage ingredients, gained 1.5 percent after it announced an agreement to sell a controlling stake in its Primary Products business to KPS Capital Partners, LP.
Car insurance provider Admiral Group rallied 3.3 percent. The company said it anticipates a higher than expected Group profit before tax from continuing operations for the first half of 2021 in the range of 450 million pounds to 500 million pounds.
Market Analysis
FTSE 100 Falls In Cautious Trade
2021-07-12 09:43:33
