Iseq retreats slightly as food groups fall
Traders work on the floor of the New York Stock Exchange. Wall Street’s main indexes were subdued on Monday as investors took a breather after the previous week’s rally, awaiting results from major companies that could influence whether markets would sustain their record highs or decline. Photograph: Michael M Santiago/Getty Images
London’s top index finished 0.48 per cent lower to end the day at 8,318.24. Chris Beauchamp, chief market analyst at IG, said: “Today’s gains have taken gold to its third-consecutive record high. The continent-wide Stoxx 600 slipped 0.6 per cent, with the real estate sector leading with a near 2 per cent drop, while energy stocks led gains as oil prices stabilised after a 7 per cent drop last week.
Lithuanian central bank governor Gediminas Simkus said on Monday the ECB may need to reduce it below the “natural” level if a fall in inflation became entrenched. Treasury yields rose, with the yield on the benchmark 10-year bond rising as high as 4.14 per cent, pressuring rate-sensitive stocks.
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