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Reuters reports banks and miners, having rallied at the close last Friday, dropped again as poor figures on the US job market preceded a three-day weekend in the States, with stock market traders reluctant to make bold moves in the absence of further data.
Richard Hunter, head of UK equities at Hargreaves Lansdown, noted the last employment report broadly beat analysts' expectations, providing the "shot in the arm" necessary to restore investor confidence and appetite for risk.
Overall, London's blue chip index lost 3.9 per cent last week and a total of 13.4 per cent in June as the sustainability of recession-beating indicators came into question, the news agency reveals.
Positive results are expected ahead of Wednesday's report from Marks and Spencer, with company shares rising 1.2 per cent.
The release of disappointing employment figures earlier in the month also depressed the market, with FTSE 100 figures dropping 1.6 per cent following publication of the data on June 6th.
Posted by Greg Secker
