Banks weigh on FTSE 100; Morrisons drops as CD&R wins bid

London's FTSE 100 index was subdued on Monday as weakness in heavyweight banks offset gains in miners and oil stocks, while Morrisons dropped after private equity firm Clayton, Dubilier & Rice (CD&R) won a bid for the company.


Reuters | London | Updated: 04-10-2021 13:28 IST | Created: 04-10-2021 12:56 IST
Banks weigh on FTSE 100; Morrisons drops as CD&R wins bid
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London's FTSE 100 index was subdued on Monday as weakness in heavyweight banks offset gains in miners and oil stocks, while Morrisons dropped after private equity firm Clayton, Dubilier & Rice (CD&R) won a bid for the company. The blue-chip FTSE 100 index was flat at 0712 GMT, with HSBA, Prudential and Lloyds Group among the worst performers.

The domestically focussed mid-cap index fell 0.2%, led by declines in consumer discretionary stocks. Britain's fourth-largest supermarket Morrisons declined 3.7% after U.S. private equity firm Clayton, Dubilier & Rice (CD&R) won the auction for the company with a 7 billion pound ($9.5 billion) bid.

Petrofac gained 9.2% after the oil services group said it was looking at refinancing options as it faces a possible $240 million fine from a London court. Online trading platform Plus500 rose 5.8% after raising its forecast for the second time in less than three months.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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