By Steve Goldstein, MarketWatch
The London Stock Exchange was the worst performer of the U.K. blue chips on Monday, as market volatility dies down with the economy improving.
LSE /zigman2/quotes/206625606/delayed UK:LSE -0.71% shares dropped over 4%, a big move in a year when the stock is only down 5%.
The move for the LSE also comes as the debate over European trading hours heats up. The European trading day is the longest in the world. Former LSE Chief Executive Xavier Rolet says what human traders do is “irrelevant,” as algorithms account for a growing percentage of activity.
The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.34% more broadly inched up 0.2%. It was a relatively quite Monday after the strong rally last week.
Cruise operator Carnival /zigman2/quotes/210414141/delayed UK:CCL +4.53% , which is getting demoted from the FTSE 100, surged 13%, and engine maker Rolls-Royce /zigman2/quotes/203646520/delayed UK:RR +3.10% rose 11%.
AstraZeneca /zigman2/quotes/203048482/delayed UK:AZN +0.20% slipped 1.7% after Bloomberg News said it approached Gilead Sciences last month over buying the maker of remdesivir. AstraZeneca said it doesn’t comment on rumor or speculation.