By Steve Goldstein
The international orientation of the FTSE 100 was on display on Monday, as the U.K. benchmark index rallied after a new lockdown was announced, while midcaps underperformed.
The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.32% climbed over 1% while the FTSE 250 /zigman2/quotes/210598417/delayed UK:MCX -0.42% was flat. According to FactSet, 24% of FTSE 100 corporate revenue comes from the U.K., while 39% of FTSE 250 revenue hails from the U.K.
Stronger-than-forecast manufacturing data out of China and the eurozone helped buoy sentiment. Pre-election polls showing former Vice President Joe Biden in the lead helped stabilize markets, even as President Donald Trump said his lawyers were ready to contest results in Nevada and Pennsylvania.
U.K. Prime Minister Boris Johnson on Saturday announced there would be a second lockdown for England, starting on Thursday, if Parliament ratifies his proposal.
Decliners included rail-and-bus-ticket seller Trainline /zigman2/quotes/212885666/delayed UK:TRN +2.14% , movie-theater chain Cineworld /zigman2/quotes/206525056/delayed UK:CINE -3.24% , and retailer Watches of Switzerland /zigman2/quotes/212606835/delayed UK:WOSG +0.16% .
GVC Holdings shares dropped 3%, as the company flagged a £43 million hit to earnings before interest, tax, depreciation and amortization, if its shops were closed the whole month.
Serco Group /zigman2/quotes/202143031/delayed UK:SRP -0.45% , which helps operate England’s struggling test-and-trace service, fell 12% after losing a nuclear submarine contract.
Ocado Group /zigman2/quotes/207225647/delayed UK:OCDO +0.98% rallied as the food-delivery service hiked its profit guidance alongside two deals to buy robotics firms for $287 million.
Associated British Foods /zigman2/quotes/204493701/delayed UK:ABF -0.83% turned higher after early losses. Up to 57% of its selling space at its Primark retail shopping division would be shut if the shutdown plan for England was confirmed.