LONDON: London’s FTSE 100 dipped on Monday as weakness in industrial stocks and a stronger pound following the outcome of the Scottish election outweighed gains in miners.
The exporter-heavy index dipped 0.1%, with large dollar-earning consumer staples companies, including Diageo, British American Tobacco and Relx Plc slipping between 0.7% and 2.3% as the pound strengthened.
The pound climbed to as high as $1.4158, its strongest in more than two months.
Miners, including Glencore, BHP Group and Rio Tinto, provided the biggest boost as copper prices touched record highs on expectations of improved demand amid tightening supply.
Ryanair Holdings, British Airways-owner IAG, Wizz Air and easyJet fell between 1.2% and 2.5%.
The domestically-focussed mid-cap FTSE 250 index was down 0.3%. Bakery and fast food chain Greggs surged 10.5% to the top of the index after raising its profit outlook.
However, Provident Financial slipped 2.5% after the sub-prime lender said it expected costs of up to 100 million pounds ($140.61 million) related to the closure of its doorstep-lending division.
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