Monday market close: Brexit jitters derail FTSE’s record streak

London traders keep an eye on the markets. Picture: Daniel Leal-Olivas/AFP/Getty Images

London traders keep an eye on the markets. Picture: Daniel Leal-Olivas/AFP/Getty Images

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The FTSE 100 ended its longest record closing streak in history, closing lower by 0.15 per cent or 10.68 points at 7,327.13, weighed down by banking and energy stocks on the back of Brexit jitters.

It marked the blue-chip index’s first negative close since the end of December and put an end to a historic winning streak after finishing at a record high for 12 trading sessions in a row.

Meanwhile, Brexit concerns dragged sterling down by more than 1 per cent against the US dollar at $1.204 after dipping to its lowest level since the October “flash crash” at $1.198 late Sunday evening.

It comes as Prime Minister Theresa May prepares to set out her approach to the forthcoming Brexit negotiations in a major speech at London’s Lancaster House today.

Connor Campbell, a financial analyst at SpreadEx, said Brexit fears were spilling over into the FTSE 100, and a “smattering of red in its banking sector was assumedly brought about by the stocks being disgruntled at the prospect of the UK leaving the single market.” Barclays dropped 4.15p to 231.1p, for example.

In UK stocks, Burberry shares rose 26p to 1,637p after confirming that new boss Marco Gobbetti takes up his role as an executive chairman this month, and chief executive after 5 July.

The biggest risers on the FTSE 100 included Rio Tinto up 70.5p to 3,488p, Anglo American up 26p to 1,355.5p, and Randgold Resources up 110p at 6,820p. The biggest fallers included Royal Bank of Scotland down 6.2p to 214.9p, Prudential down 34.5p at 1,578p and ITV down 4.4p to 204.2p.

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