The blue-chip index closed 59.92 factors decrease, or 0.78%, to 7,623.99.
Meanwhile, a brand new report from auditing large KPMG cautioned that progress within the UK financial system is ready to sluggish all through the rest of the 12 months and into 2024.
Michael Hewson, chief market analyst for CMC Markets UK, stated: “European markets have got the week off to a poor start as concerns around sticky inflation, and low growth (stagflation), or recession have served to push yields higher and equity markets lower.
“Worries over the property sector in China aren’t helping either after it emerged Chinese property group Evergrande said it was struggling to organise a process to restructure its debt.
“This is prompting weakness in the basic resources sector, along with other companies exposed to the region, pulling the FTSE 100 to a one-week low.”
Germany’s prime inventory index, the Dax, dropped by 0.98%, and France’s Cac 40 fell by 0.85%.
Meanwhile, the pound hit a brand new six-month low in opposition to the US greenback, buying and selling 0.2% decrease to 1.225. Sterling was up 0.3% in opposition to the euro to 1.1531.
In firm news, playing large Entain sunk to the underside of the FTSE 100 after it informed traders it’s anticipating on-line gaming revenues to have fallen over the 12 months.
Online safer playing measures and incoming UK laws have contributed to a slowdown in spending, and it flagged a weaker-than-expected efficiency in its Australian and Italian markets.
Shares within the Coral and Ladbrokes proprietor had been down by 13.1% at shut.
Shares in tobacco large Imperial Brands additionally tumbled on Monday amid experiences that the Prime Minister is contemplating outlawing cigarettes for the subsequent technology with powerful anti-smoking measures emulating plans put ahead in New Zealand.
Imperial Brand’s share value dropped by 5.7% at shut, and shares in British American Tobacco had been down by 3.3%.
In higher news, shares in CRH leaped increased after the constructing supplies agency stated it had efficiently transitioned to a major itemizing on the US’s New York Stock Exchange amid efforts to develop the enterprise and returns for shareholders.
It has retained a regular itemizing on the London Stock Exchange, the place its share value was up by 5.1% at shut.
The greatest risers on the FTSE 100 had been CRH, up 222p to 4,563p, IMI, up 30p to 1,500p, AstraZeneca, up 148p to 1,1194p, Pershing Square, up 32p to three,032p, and Barratt Developments, up 4.5p to 472.1p.
The greatest fallers on the FTSE 100 had been Entain, down 138p to 918p, Imperial Brands, down 98.5p to 1,639.5p, Ocado, down 34.2p to 657p, Burberry, down 90.5p to 1,914.5p, and British American Tobacco, down 88p to 2,622p.
