FTSE 100 Falls On Growth Concerns

U.K. stocks were moving lower on Monday amid concerns that higher inflation and a spike in coronavirus infections could derail a nascent economic recovery.

The benchmark FTSE 100 slipped 24 points, or 0.4 percent, to 7,003 after ending 0.9 percent higher on Friday.

Lower yields pulled down banks, with HSBC Holdings, Lloyds Banking Group and Barclays declining between 0.7 percent and 1.2 percent.

Strong base metal prices helped lift miners, with Anglo American, Antofagasta and Glencore rising about 1 percent each.

Low-cost carrier Ryanair jumped 3.6 percent. The company lifted its full-year traffic forecasts after reporting a smaller-than-expected first quarter loss.

Drug maker AstraZeneca, which recently completed its $39-billion acquisition of Alexion, fell about 1 percent.

Meat producer Cranswick rallied 2.2 percent after saying its full-year outlook remains in line with management expectations.

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