Sector movers: Fixed-line telecoms wanted after government reveals broadband proposals
Fixed line telecommunications providers were at the top of the leaderboard at the start of the week after news broke that the government would help finance the roll-out of full-fibre broadband services across the UK.
Westminster may provide between £3.0-£5.0bn of funds to meet its goals of connecting as many as 15.0m properties by 2025, with full coverage across Britain being targeted for 2033.
Oil equipment and service stocks were also higher, boosted by the ratcheting up in the verbal sparring between Tehran and Washington at the weekend.
Iranian president, Hasan Rouhani, warned the US not to "play with the lion's tail", prompting a sharp rebuke from the White House, with President Donald Trump telling his opposite number to never threaten his country, adding that he should choose his words carefully.
That sparked a 0.855% advance in Brent crude oil futures for September delivery to $73.70 a barrel on the ICE.
Food and Drug retailers were also wanted, especially stock in Ocado.
That was despite analysts at Morgan Stanley having come out on Monday to highlight that shares of the on-line grocer were now trading above their target price.
On the other side of the ledger, homebuilders were the main drag as government bond yields across the globe were pushed higher by news that the Bank of Japan might be mulling changes to its monetary policy.
Although many analysts remained quite spectical about the prospect for any significant changes, on Friday several reports indicated the BoJ was studying how to minimise the negative impact that longer-term interest rates near 0% might have on lenders' profits.
Increasing the sustainability of its policies, by lowering the need for continued bond purchases, was reportedly another aim of policymakers.
By 1701 BST, the yield on the benchmark 10-year GIlt was four basis points higher at 1.27%.
Top performing sectors so far today
Fixed Line Telecommunications 2,576.11 +1.53%
Oil Equipment, Services & Distribution 13,266.60 +1.25%
Food Producers & Processors 7,267.79 +0.63%
Food & Drug Retailers 4,295.11 +0.35%
Electricity 8,147.21 +0.33%
Bottom performing sectors so far today
Forestry & Paper 22,560.03 -1.96%
Household Goods & Home Construction 16,538.02 -1.53%
Tobacco 44,019.69 -1.08%
Software & Computer Services 1,835.42 -1.07%
Electronic & Electrical Equipment 7,041.35 -0.91%