FTSE 100 Flat in Slow Post-Christmas Trading

The FTSE 100 was unchanged in quiet post-Christmas trade, mirroring subdued sentiment across Europe. 

The DAX slipped 0.2%, while the CAC 40 and the Stoxx 600 were both flat.

Mining stocks provided some support for the London market, with Fresnillo up 2.4%, Glencore rising 2.1% and Anglo American gaining 1.8%. 

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The sector outperformed as commodity-linked names attracted early interest despite spot gold and silver declining significantly on Monday.

However, a number of blue chips weighed on the index. Babcock fell 2.8%, making it the biggest FTSE 100 decliner, followed by BT Group, down 1.9%, and BAE Systems off 1.5%. Rolls-Royce also eased 1.3%.

Corporate updates are among the few pockets of news in an otherwise thin session. Everyman Media Group said Alex Scrimgeour has stepped down as chief executive with immediate effect. Non-executive director Farah Golant will take over as interim CEO while the board begins the search for a permanent successor.

Elsewhere, International Personal Finance confirmed a significant development after its board agreed to the terms of a recommended cash offer from IPF Parent Holdings Limited. The acquisition values the entire issued and to-be-issued share capital of the company at about £543 million.

With many traders still away following the Christmas break, volumes remained light and market movements muted.