FTSE 100 and European stocks decline as Primary Health Properties announces a £700m joint venture, Serica reports growth and Brent crude weakens.
Market Overview
The FTSE 100 opened lower on Monday, falling 0.61 per cent to 10,816.62, as weakness in US technology stocks weighed on investor sentiment. European markets also declined, with the Euronext 100 down 0.60 per cent to 1,863.98 and Germany’s DAX falling 0.71 per cent to 25,441.27, amid concerns over civil unrest in France. Wall Street ended Friday lower, with the Nasdaq closing at 26,140.03 and the S&P 500 at 7,659.44.
Commodity markets were mixed, with copper, gold, Brent crude and natural gas all trading lower. Oil prices faced pressure from developments involving US sanctions on Russia, adding to uncertainty over global supply. Against sterling, the US dollar, Swiss franc and Australian dollar weakened, while the euro and Japanese yen strengthened. Bitcoin also advanced against the pound.
Market Numbers
FTSE 100: Down (0.61%), 10,816.62
Euronext 100: Down (0.60%), 1,863.98
DAX: Down (0.71%), 25,441.27
NASDAQ: Down, 26,140.03
S&P 500: Down, 7,659.44
In the Headlines
£700 Million Hospital Joint Venture – Primary Health Properties (LSE:PHP)
Primary Health Properties has agreed a £700 million hospital property joint venture with Singapore sovereign wealth fund GIC. The transaction is intended to reduce debt and provide greater financial flexibility for the healthcare property investor.
Production Growth and Revenue – Serica Energy (LSE:SQZ)
Serica Energy reported a 44 per cent increase in production and revenue of $905 million, while progressing plans to move its listing to the London Stock Exchange’s Main Market. The update highlights the North Sea oil and gas producer’s operating performance and planned change in listing status.
Currencies (vs GBP)
USD: Down (0.12%), $1.3318
CHF: Down (0.03%), Fr.1.0981
EUR: Up (0.01%), €1.1880
JPY: Up (0.08%), ¥210.5095
AUD: Down (0.20%), $1.9089
Bitcoin (BTC/GBP): Up £62,172.12
Commodities
Copper: Down
Gold: Down
Brent Crude: Down
Natural Gas: Down
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