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* Journey and leisure shares among the many greatest performers
* SThree up on sturdy outcomes, Flutter high gainer on FTSE 100
* FTSE 100 down zero.2%, FTSE 250 provides zero.1% (Updates to shut)
By Shivani Kumaresan and Amal S
March 15 (Reuters) – London’s FTSE 100 fell on Monday as weak point in commodities-linked shares offset preliminary beneficial properties, whereas journey and leisure shares jumped to close pre-pandemic ranges on optimism over an financial restoration this yr.
The blue-chip FTSE 100 index reversed course and ended zero.2% decrease as mining majors Rio Tinto , BHP Group fell monitoring decrease iron ore costs within the face of metal manufacturing curbs in China. IRONORE/
Oil majors BP and Royal Dutch Shell , fell monitoring weaker oil costs. O/R
“China is seeking to clamp down on emissions and it seems to be a bit bit extra critical this time, and these new laws are going hit the bottom-line of metal makers like Rio Tinto,” mentioned Michael Baker, analyst at ETX Capital.
“Market remains to be optimistic, since January issues are pushing to the upside very step by step. It’s on track however it’s simply been a bit bit uneven buying and selling situations in the intervening time.”
Journey and leisure shares , jumped 2.2% to close 13-month highs, with Flutter Leisure , the world’s largest on-line betting group topping the FTSE 100 after saying it was contemplating itemizing a small shareholding of its U.S. FanDuel enterprise. domestically-focused FTSE 250 index ended flat.
The FTSE 100 has rebounded greater than 37% from a coronavirus-driven crash final yr, however has struggled to achieve pre-pandemic highs as new lockdown measures weighed.
Nonetheless, with Britain slowly enjoyable curbs, and with vaccinations anticipated to select up tempo, traders have turned optimistic over the economic system.
Financial institution of England Governor Andrew Bailey mentioned current rise in rates of interest in monetary markets was in step with an enchancment within the financial outlook, whereas a survey confirmed British companies usually tend to count on a rebound in exercise this yr than their counterparts overseas. rose four.zero%, after saying its first-quarter efficiency had returned to pre-pandemic ranges and exceeded its expectations.