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FTSE 100 Falls as Inflation Concerns Weigh

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Londons FTSE 100 fell on Monday as higher commodity prices sparked fears of a spike in inflation, while investors awaited Prime Minister Boris Johnsons plan for a phased easing of business restrictions.

The bluechip FTSE 100 fell 0.6, led by declines in consumer staples and industrials stocks.

Oil heavyweights BP and Royal Dutch Shell dipped 0.1 and 0.3, respectively, despite higher crude prices.

Johnson will plot a path out of COVID19 lockdown on Monday in an effort to gradually reopen the battered 3 trillion economy, aided by one of the fastest vaccine rollouts in the world.

The midcap index fell 0.3, led by declines in financials and industrials stocks.

British Airwaysowner IAG rose 1.1 after it said it raised total liquidity by 2.45 billion pounds 3.4 billion, reaching final agreement for a 2billionpound loan, and through a deal to defer 450 million pounds of pension deficit contributions.

Pub operator Mitchells Butlers shed 0.5 as it reported a plunge in sales due to all its sites having been forced shut under the latest lockdown.

Reporting by Shivani Kumaresan in Bengaluru; editing by Uttaresh.V

Source Reuters

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