- Consumer staples fall on stronger pound
- Miners gain as copper prices jump
- Ryanair gains on higher air traffic forecast
- FTSE 100 flat, FTSE 250 adds 0.2%
July 26 (Reuters) - 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.
Dollar-earning consumer staples stocks, including Unilever (ULVR.L), Reckitt Benckiser Group , and Diageo Plc (DGE.L) fell between 0.6% and 2.6% 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 local COVID-19 infections and a potential pullback of pandemic relief measures by the central bank, while receiving some support from positive corporate earnings.
Providing some relief, however, government figures showed Britain's coronavirus cases had fallen to the lowest daily total since July 4. read more
The domestically focussed mid-cap index (.FTMC) added 0.2%.
London-listed shares of Ryanair jumped 4% after it nudged up its forecast for full-year traffic on strong summer bookings. read more
"This demonstrates how resilient demand for foreign holidays remains, particularly among the fully vaccinated cohort which now have a little more freedom to travel," said Danni Hewson, financial analyst at AJ Bell.
Meanwhile, the energy sector (.FTNMX601010) gained 2.67%, with Royal Dutch Shell (RDSa.L) up 2.5% after the oil major announced plans to develop a new oilfield in the Gulf of Mexico, its first major project to get the go-ahead since a Dutch court ordered it to accelerate carbon emissions reduction targets. read more
Our Standards: The Thomson Reuters Trust Principles.