London’s top stock index was a touch higher at the end of trading on Monday after strong early gains were mostly erased.
“Latecomers to the rally need to be wary; strong gains from February into April were followed up by a very choppy period, one that could easily recur.” Meanwhile, sterling was robust despite Bank of England deputy governor Ben Broadbent indicating interest rates could be cut this summer. Sentiment across the travel sector was impacted by Ryanair’s suggestion that ticket price inflation is starting to flatline and that the company could soon need to start cutting prices.Video games services firm Keywords Studios was the sharpest riser after bosses indicated they would be willing to accept a £2 billion takeover, as it appears to be the latest London-listed firm to be taken private.
The price of oil surged early of Monday morning after report the Iranian president died in a helicopter crash, but gave back much of these gains after a US federal reserve official appeared cautious about reducing borrowing costs.
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