London markets closed slightly weaker on Monday as traders paused to digest upcoming UK and US economic data.
The FTSE 100 slipped 0.2% to 9,675.43, while the FTSE 250 fell 0.6% to 21,687.90. The AIM All-Share edged down 0.3% to 744.45. After last week’s pre-budget jitters, Monday’s trading was calmer, with bond yields easing and investors waiting for clarity on the government’s spending plans.
All eyes are on Wednesday’s UK inflation report. September’s numbers showed CPI at 3.8%, steady from August and slightly below market expectations, hinting that inflation may have peaked. Traders are watching to see if this gives Chancellor Rachel Reeves room to maneuver in the upcoming budget.
Wall Street added to the cautious mood, with all major indices closing lower. The Dow Jones fell 1.2%, the S&P 500 slipped 0.9%, and the Nasdaq gave up 0.8% as investors await Nvidia earnings on Wednesday and US nonfarm payrolls on Thursday.
In London, WPP jumped 11% on speculation that Havas and private equity groups are eyeing parts of the advertising giant.
3i Group rose 5.1% after management bought shares following last week’s drop.
Laggards included Informa, down 2.4%, after its Dubai capital markets day failed to excite, and Genuit, which slumped 14% after cutting full-year profit guidance due to uncertainty around the UK budget.
HICL Infrastructure fell 5.8% after agreeing a combination with Renewables Infrastructure Group, which itself rose 5.3%.