Escalating geopolitical risks in Middle East weighed on UK markets on Monday.
The FTSE 100 index fell 0.4% to 7,965.53, as commodity prices declined, dragging down resource stocks. The FTSE 250 slipped 0.1% to 19,698.89, while the AIM All-Share shed 0.7% to 750.28. Fresnillo and BP were among the top FTSE 100 laggards, shedding 3.9% and 2.2%, respectively.
In the mid-cap space, Mitie Group surged 6.6% after forecasting an 11% revenue jump to £4.50 billion for FY2023 and unveiling a £50 million share buyback. IT provider Kainos climbed 5.3%, saying FY2024 revenue narrowly missed estimates while profit met expectations.
Recruiter PageGroup plummeted 9.1% as harsh market conditions persisted into Q1 2024, with gross profit down 13%. Among small-caps, Petrofac tumbled 12% amid debt restructuring woes. Molecular Energies plunged 34% after shareholders approved delisting and re-registering as a private firm.
Daily Risers and Fallers
Mitie 6.6%, Kainos Group 5.3%, Inchcape 4.1%, Zotefoams 3.7%, Ferrexpo 3.7%.
Petrofac -11.7%, PageGroup -9.1%, Endeavour Mining -7.1%, Cab Payments -5.8%, Enquest -5.8%.
Daily Recap
- Tesla to axe 15,000 jobs in global workforce reduction
- USD/JPY: Yen under pressure as intervention looms
- Mitie boasts record profit, launches new share buyback
- Audioboom targets profitability after wider loss
- Standard Chartered invests in ethical fintech Algbra
- Sirius Real Estate expects strong results, acquisition spree to continue
- Gold hovers near record highs as safe-haven demand rises
Subscribe to Investomania for more FTSE news and updates.
