By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) -- London stocks tracked the rest of Europe
lower on Monday, as supermarket stocks proved a drag, but the main
U.K. index was still set to finish the year around 14% higher.
The FTSE 100 index eased 0.4% to 6,726.01 after finishing last
week up 2.2%.
Retailers were the weak link on Monday, with Marks & Spencer
Group PLC down 1.4%, J Sainsbury PLC off 1.2% and Wm Morrison
Supermarkets PLC slipping over 1%. Related decliners included
Associated British Foods PLC , which fell 1%.
Trading volumes are low as investors wind down 2013, with many
gone until after the New Year. But investors should take care with
the big gains that have been made recently across all markets, said
Craig Erlam, market analyst with Alpari, in a note.
"We should be a little careful...as these gains have come at a
time when trading volumes have dropped significantly, owing to the
festive period, which can sometimes be followed by sharp reversals
as volumes pick up again," said Erlam.
Shares of Anglo American PLC rose nearly 2%, outperforming the
rest of the mining sector, which was flat to weaker. HSBC Holdings
PLC eased 0.5%, while British American Tobacco PLC dropped over
1%.
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