FTSE 100 closes down as retailers and banks weigh
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares in London’s top index continued their 2024 decline on Monday as several of the FTSE 100’s retailers ended up deep in the red. “Friday’s bounce for the FTSE 100 has been reversed as a risk-off mood prevails across European markets,” said Chris Beauchamp, chief market analyst at online trading platform IG “Today’s volume-light day across global markets shouldn’t provide too much of a clue for the coming sessions, though it seems that profit-taking continues to prevail among investors. “Earnings season didn’t get off to a great start on Friday, so there has been little incentive for traders to chase the market even in its current subdued state.” At the bottom of the index Burberry, whose results were disappointing last week, rubbed shoulders with fellow – although very different – retailers Ocado and B&M European. “Today’s biggest fallers on the FTSE 100 are lower due to broker downgrades,” said CMC Markets analyst Michael Hewson.