By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- The U.K.'s FTSE 100 index moved lower in
a choppy session on Monday, with concerns about banks outweighing
optimism over better-than-expected U.K. manufacturing data.
The benchmark index dropped 0.3% to 6,525.51, after closing out
last week with the biggest weekly advance since February.
On Monday, heavyweight bank HSBC Holdings PLC (HSBC) skidded
1.3% after setting aside around $1.7 billion to cover one-off
charges, such as legal settlements and compensation to
customers.
Shares of Royal Bank of Scotland Group PLC (RBS) dropped 1.6%
after Investec cut the bank to sell from hold.
On a more upbeat note, shares of easyJet PLC added 2.3% after
rival budget airliner Ryanair Holdings PLC lifted its full-year
profit guidance and reported a rise in second-quarter earnings.
Ryanair shares leapt 9.2% in Dublin.
In data news, the U.K. manufacturing purchasing managers index
-- a gauge of factory activity -- rose to a three-month high in
October, led by stronger domestic demand. The pound (GBPUSD) moved
higher after the report, trading at $1.6005, from $1.5999 ahead of
the data.
Also read: European stocks pull back
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