London bourse falls after best run since May 2017

London’s main index drifted lower in thin holiday trading on Tuesday after nine straight sessions of gains, weighed down by exporter stocks, while the midcaps were largely flat amid a lack of major drivers.

The FTSE 100 .FTSE inched 0.2 percent lower in early deals as the sterling steadied, leading more internationally-exposed firms such as BAT (BATS.L) lower. The bourse still hovered around a near five-month high hit in the previous session.

The mid-cap FTSE 250 .FTMC is on course to rise for the fourth straight month in the aftermath of Prime Minister Boris Johnson’s election victory.

NMC Health, which rallied almost 37 percent on Monday after saying it would launch an independent review of its books, declined nearly 10 percent. Its shares have been battered since short-selling firm Muddy Waters questioned its financials last week.

UK markets will shut early on Tuesday and remain closed for Christmas and Boxing Day on Wednesday and Thursday.

Source: Reuters