FTSE 100 is still on the rise - up 1.3% to 6,827 as pound dips
This may be partly down to a weakening pound, which is down 0.5 per cent against the dollar at $1.383.
Against the euro, sterling is also down 0.5 per cent at €1.170.
The pound has been rising in recent weeks, with analysts putting that down to the UK s vaccination programme, which has been much faster than Europe s.
But as traders returned from a long weekend in Europe, sterling has dropped back.
Stuart Cole, chief macro strategist at Equiti Capital in London, told Reuters this may be down to profit taking:
It is the re-opening of London this morning that is seeing sterling under some initial pressure, as sellers have returned and taken advantage of the rally seen over the last 24 hours or so.