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FTSE 100 Sees Subdued Start As Airline Shares Drop

U.K. stocks were moving lower on Monday as trade worries persisted and budget airline Ryanair warned its shareholders not to expect any profits growth in the current fiscal year.

The benchmark FTSE 100 was down 25 points or 0.34 percent at 7,323 after closing 0.1 percent lower on Friday.

Ryanair Holdings fell 2.5 percent as it reported its weakest annual profit in four years and warned of a worse trading environment.

easyJet shed nearly 1 percent and British Airways owner International Consolidated Airlines slid half a percent.

Shares of energy companies such as BP Plc and Tullow Oil were trading higher as oil prices rose amid signs that OPEC may extend output cuts.

Shares of Low & Bonar slumped 26 percent after the performance materials group warned that its first-half results would be materially behind that of the prior year.

In economic releases, British households' financial wellbeing deteriorated at the fastest pace since September 2017, survey data from IHS Markit showed.

The household finance index, which measures households' overall perception of financial wellbeing, dropped to 42.5 in May from April's three-month high of 43.8.

The score indicated the strongest level of pessimism towards current financial wellbeing among U.K. households since September 2017.

Nevertheless, the outlook towards future finances was the least downbeat since last November.

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