Market Analysis

UK shares experienced a decline on Monday following their worst performance since August in the previous session, as investors awaited the release of flash PMI data.

As of 0720 GMT, the blue-chip FTSE 100 and the domestically-focused midcap index were each down 0.1%. Both indexes had their worst day in nearly seven weeks on Friday, following the Bank of England's decision to maintain interest rates.

Investors are looking towards the UK flash PMI data later in the day.

In contrast, precious metal miners saw a rise of 0.8% as gold prices reached record highs.

The personal goods sector faced the most significant losses, primarily due to a 2.2% decline in shares of luxury goods manufacturer Burberry, marking its second consecutive day of decline.

Rightmove (OTC) saw a 3% increase after Australia's REA Group made a third offer to acquire the UK property-listing firm, presenting a new bid of 6.1 billion pounds ($8.12 billion).

AstraZeneca (NASDAQ) experienced a 0.6% dip after the company announced that its experimental precision drug did not significantly enhance overall survival rates for patients with a specific type of breast cancer in a late-stage trial.

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Paraphrasing text from "Reuters” all rights reserved by the original author.