FTSE 100 Sees Weak Start To The Truncated Week
U.K. stocks were slightly lower on Monday ahead of a short week of trading before the long Easter weekend.
The benchmark FTSE 100 was down 8 points, or 0.1 percent, at 7,923 after rising 0.6 percent on Friday to reach a record high on hopes that interest rates are on the horizon.
In corporate news, Direct Line Insurance Group shares plunged 12 percent after Belgian insurer Ageas said it won't make a third takeover offer.
Gamma Communications, a provider of communication products and services, rose about 1 percent as it reported a rise in pre-tax income for the full year, supported by improved revenue, mainly from Gamma Business and Gamma Enterprise segments.
Pennon Group, a water utility company, declined about 2 percent after delivering full year financial performance in line with the management expectations.
Home improvement retailer Kingfisher lost 2.1 percent after its pre-tax profit for fiscal year ended January 31 fell 22.3 percent to 475 million pounds from last year's 611 million pounds.
Property development company Henry Boot shed 1 percent after its fiscal 2024 profit before tax fell 18 percent to 37.3 million pounds from last year's 45.6 million pounds.
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