FTSE 100 ends lower after three sessions of gains, on weakness in banking, mining stocks

By Reuters News

Oct 19 (Reuters) - London's FTSE 100 closed down on Monday, dragged by Barclays, which fell after a report said that the Bank of England was probing the lender, while weakness in miners added further pressure.

The blue-chip FTSE 100 index .FTSE fell 1.1% to 10,764.69 points after three consecutive sessions of gains. The midcap FTSE 250 .FTMC slipped 0.6%, snapping a six-day winning streak.

Here are more details:

  • Unilever ULVR.L agreed to sell its Welly bandage brand to private-equity firm Forward Consumer Partners, the Wall Street Journal reported after markets closed

  • Barclays BARC.L fell 3.5% as a report by The Financial Times said the Bank of England was examining whether the lender's traders misrepresented illiquid private credit loans to understate their risk

  • The broader sector .FTNMX301010 was down 2.3%

  • Anglo American AAL.L and Glencore GLEN.L fell 4.1% and 3.3%, respectively, among the benchmark's biggest drags, as copper prices dipped

  • Industrial metal miners .FTNMX551020, aerospace and defence stocks .FTNMX502010 and utilities .FTUB6510 were also down more than 2% each

  • Investors will be watching for UK September inflation and retail sales figures this week, just as earnings season gets underway

  • Finance Minister John Healey's first budget speech is due next week. According to media reports, income tax on family business transfers and windfall taxes on banks are expected.

  • Asking prices for British homes rose in October amid signs that rising mortgage rates — caused by the war in Iran — were starting to weigh on affordability and more resilient parts of the market, property ​website Rightmove said

  • Serica Energy SQZ.L fell 2.6% after flagging a further delay to the restart of its Triton production vessel and lowering its annual production forecast

  • Luxury handbag maker Mulberry MUL.L gained 2.6% after reporting an 18% jump in first-half sales.

  • Volex VLX.L bottomed the FTSE 250 after its half-year trading update, while Pets at Home PETSP.L rose about 6.7% after Peel Hunt's rating upgrade

  • Risk appetite was subdued in Europe as investors weighed political uncertainty in France

  • In the broader London market, decliners outnumbered advancers by a 2-to-1 margin

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