London's FTSE 100 closes flat

Finance | 27 Jul 2021 7:28 am

London's FTSE 100 index ended flat on Monday as weakness in healthcare stocks and a stronger pound offset gains in commodity-linked shares, while Ryanair climbed on strong summer bookings, Reuters reports.

The benchmark FTSE 100 ended flat, with healthcare and consumer staple stocks down 1.9 percent and 1.8 percent respectively.

Dollar-earning consumer staples stocks, including Unilever , Reckitt Benckiser Group, and Diageo Plc fell between 0.6 percent and 2.6 percent due to the stronger pound and were among the top drags on the index.

"We're probably going to see a choppy market as we get through the week. The big question mark here is the Fed meetings as we could see Treasury yields really swing off on that. There's a potential that we could have a hawkish surprise and that could disrupt the risk appetite a little," said Edward Moya, senior market analyst at OANDA.

The FTSE 100 has traded in a tight range since April, on concerns around higher localcoronavirus infections and a potential pullback of pandemic relief measures by the central bank, while receiving some support from positive corporate earnings.

 



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