A fall in oil prices dragged BP (BP.) and Royal Dutch Shell (RDSB) around 0.8% lower, which saw the FTSE 100 nudge into the red on Monday.
Banks were also weak with Royal Bank of Scotland (RBS) and Barclays (BARC) retreating up to 1.7%.
West Texas Intermediate slid 1.2% to $48 and Brent crude oil declined 0.8% to $51.33 per barrel, respectively.
Gold gained 0.3% to $1,233 per ounce and copper was stable at $5,908 per tonne.
Average house prices in the East Midlands surpassed £200,000 for the first time after rising 2.1% in March, according to Rightmove’s index.
The US markets were flat on Friday as investors were cautious following the interest rate hike from the US Federal Reserve.
In Asia, the markets were subdued as Japan was closed for a public holiday on Monday. The Hang Seng in Hong Kong closed 0.8% higher, while Shanghai’s SSE Composite made smaller gains of 0.4%.
FTSE 100 RISERS AND FALLERS
Mobile telecoms giant Vodafone (VOD) sealed a $23bn deal to merge its Indian unit with rival Idea Cellular, which will create one of the world’s largest mobile companies.
FTSE 250 RISERS AND FALLERS
Shares in facilities manager Carillion (CLLN) were flat despite winning a £90m contract from the UK Defence Infrastructure Organisation to design and build a communications centre in Cyprus. The company said construction will begin in April and is expected to be completed by the end of January 2019.
Hansteen (HSTN) was up 2.4% after it agreed to dispose of its German and Dutch portfolios for €1.28bn to entities owned by funds advised by affiliates of The Blackstone Group and M7 Real Estate.
SMALL CAP RISERS AND FALLERS
Virtual reality music content specialist EVR Holdings (EVRH) entered an agreement with heavyweight record company Universal Music. The good news struck a chord with investors as the stock rallied by 10%. The worldwide, multi-year agreement, licensed the creation and distribution of virtual reality content featuring Universal’s artists.
Investors were excited by electronic systems developer PipeHawk’s (PIP) upbeat expectations concerning its order book. The business reported it expects its potential order intake to increase significantly throughout this financial year and into the next. Despite the good news, shares in the firm slipped 3.8%.
Supercapacitor designer CAP-XX (CPX) plummeted 16.3% after revealing first half revenue was down 18% year-on-year. The company, whose products are intended to extend the performance of batteries, blamed a disruption to the supply of key raw materials.
Difficult conditions will continue in the near term at seafood processor Aquatic Foods (AFG) following stagnant sales volumes. The market had jitters as the shares fell 3.4%.
Micro-cap software business BOS Global (BOS) signed a conditional agreement to acquire a 40% interest in Australian peer Call Design. The stock gained 7.7%.
South African miner Bushveld Minerals (BMN) soared 20% as it moved a step closer to buying the Strategic Minerals business from larger peer Evraz (EVR). The company received $3m in financing from Wogen Resources. Management said the $17.2m deal to acquire Strategic Minerals is expected to complete at the end of March.
Story provided by StockMarketWire.com