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. 

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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.