The UK’s FTSE 100 on Monday extended losses from last week as energy shares tracked oil prices lower, while investors looked ahead to the start of the earnings reporting period and a slew of economic datasets this week.
The blue-chip FTSE 100 fell 0.2 percent after it started the year on a grim note last week.
Heavyweight oil and gas shares led losses among sectors, dropping 1.5 percent to a three-week low after oil prices fell more than 1 percent on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output.
READ: Oil slips as higher OPEC supply, Saudi price cuts offset Mideast worries
UK stocks finished the first week of 2024 lower, with FTSE 100 falling by the most since November and the FTSE 250 by the most since early October, as markets scaled back on early rate cut bets.
Goldman Sachs expects the FTSE 100 to rise to 7,900 over the next 12 months, representing a roughly 3 percent upside for UK stocks from…
