Markets

FTSE 100 Recovers From Early Slide

(RTTNews) - U.K. stocks recovered from initial losses to trade on a flat note Monday, as the British pound gave back earlier gains versus the dollar amid concerns over surging coronavirus cases in Europe and lack of clarity on the U.S. stimulus package.

New regulations and social-distancing rules are being introduced across multiple European countries as Europe became the second region after Latin America to surpass 250,000 deaths on Saturday.

Meanwhile, after reported progress on state aid rules, trade talks between Britain and the European Union will continue in London until the middle of this week.

The FTSE 100 was little changed at 5,858 after hitting as low as 5,782 earlier in the session. The benchmark index climbed 1.3 percent on Friday.

Student accommodation provider Unite Group fell over 1 percent after the company announced the appointment of Richard Huntingford to succeed Phil White as Chairman.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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