"The consumers have to deal with higher energy bills, mortgage and food costs and Bank of England has been hiking rates, that is going to have an impact on the job market at some point," said Patrick Armstrong, chief investment officer at Plurimi Wealth. Among single stocks, miner Antofagasta dropped 2.1% as the company said its access to its Los Pelambres operation in Chile is being blocked by a "small group of people".
European markets are heading for a lower open on Monday as investors keep a close eye on unrest in China as the public demonstrates against Covid lockdowns.
Asia-Pacific markets traded lower on Monday amid unrest in China over its continued zero-Covid policy and a growing number of cases reported in the nation.