FTSE 100 Index Edges Lower as European Markets Mixed; Defence Stocks Slide

The FTSE 100 has slipped 0.1% in early Monday trading, moving slightly lower even as several major European markets diverged. 

Germany’s DAX fell 0.6% and France’s CAC 40 declined 0.4%, while the AEX in Amsterdam gained 0.4% and Spain’s IBEX 35 added 0.2%.

Airlines were in focus after easyJet and Wizz said an urgent update to Airbus software had been completed without disruption to their flying programmes. 

The confirmation helped ease concerns over operational impacts following the required update.

Meanwhile, defence-related stocks were among the sharpest fallers on the FTSE 100. 

BAE Systems and Babcock International each dropped 1.9%, while Rolls-Royce lost 0.9%. Melrose Industries, which supplies components for aerospace and defence, declined 3.2%, contributing to pressure on the sector.

The mining sector provided some support for the index as commodity-linked names advanced. 

Endeavour Mining rose 1.8% and Fresnillo climbed 3.4%. Glencore gained 1.6%, while Anglo American and Antofagasta increased 1.3% and 1.1%, respectively. 

The moves came as the price of gold rallied alongside oil, offering a tailwind to the resources sector. BP and Shell are slightly higher, gaining 0.5% and 0.4%, respectively.