The FTSE 100 ended lower on Monday, weighed down by rising bond yields and ongoing global economic concerns. As expectations for interest rate cuts were reduced, UK gilt yields rose, reflecting a broader trend in global bond markets. Worries about inflation, geopolitical tensions, and the UK's economic outlook further dampened investor sentiment. Major stocks such as Diageo (-2%), Rolls-Royce (-2.2%), AstraZeneca (-1.4%), Relx (-1.2%), and GlaxoSmithKline (-1.2%) all experienced declines. However, BP and Shell saw gains of around 1.5% due to rising oil prices. HSBC Holdings and Unilever saw little movement. On the corporate front, Entain raised its profit expectations for 2024, while Oxford Nanopore Technologies surged over 9% after reporting strong revenue growth. PageGroup fell by 3.5% after issuing its second profit warning in six months.
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