Miners, energy stocks drag UK's FTSE 100 lower

Heavyweight energy stocks eased 0.8%, tracking a fall in crude oil prices, while industrial metal miners lost 0.6%. Investors are now awaiting the UK mortgage data and the inflation prints across the eurozone and in the United States due later in the week. Rightmove jumped 5.3% after UK's largest property portal lifted its forecast for annual average revenue per advertiser.

UK's FTSE 100 slipped in early trade on Monday, with heavyweight energy and mining stocks leading the declines, while cautious investors braced for a barrage of economic data throughout the week.

By 0805 GMT, the blue-chip FTSE 100 fell 0.2%, while the more domestically-focussed FTSE 250 midcap index added 0.1%. Heavyweight energy stocks eased 0.8%, tracking a fall in crude oil prices, while industrial metal miners lost 0.6%.

Investors are now awaiting the UK mortgage data and the inflation prints across the eurozone and in the United States due later in the week. Among individual stocks, Entain eased 2.2% after Goldman Sachs downgraded the Ladbrokes-owner's stock to "Sell" from "Buy".

Drugmaker AstraZeneca dipped 0.6% after brokerage Jefferies lowered its price target on the stock. Rightmove jumped 5.3% after UK's largest property portal lifted its forecast for annual average revenue per advertiser.

 

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