FTSE 100 Index Edges Higher as European Markets Mixed

London’s FTSE 100 edged up 0.1% early on Monday, beginning the week on a steady note amid a mixed performance across wider European markets. Germany’s DAX also gained 0.1%, while France’s CAC 40 was flat and Spain’s IBEX 35 slipped 0.1%.

The move follows a volatile period last week. 

WPP leads the blue-chip index, jumping 5.2% to the top of the FTSE 100 after a strong start to the session. The advertising group was followed by private equity firm 3i, up 2.9%, and entertainment group Entain, which rose 1.5%.

On the downside, Burberry was the weakest performer, falling 3.5%. Spirax Group declined 1.2%, while Anglo American slipped 1.1%, adding pressure to the commodity-heavy index.

Outside the FTSE 100, Genuit Group shares tumbled 11% after the piping and water management company warned that subdued market conditions are likely to persist into early next year. 

The group now expects full-year underlying operating profit of between £92 million and £95 million, citing a moderation in market volumes since its first-half results. It said purchasing uncertainty linked to the November U.K. Government Budget and the broader economic outlook had weighed on recent trading.

In the housing market, Rightmove reported that the average new seller asking price fell 1.8% month-on-month in November, equivalent to £6,589. 

The steeper-than-normal seasonal decline brought the average asking price for a home coming to market across Britain to £364,833, highlighting continued softness in the property sector as year-end approaches.