(Sharecast News) - London stocks were little changed in early trade on Monday as investors braced for a second national lockdown and this week's US presidential election.
At 0830 GMT, the FTSE 100 was down 0.1% at 5,574.73, off opening lows and helped along by strong performances from the likes of Ocado and Just Eat.

CMC Markets analyst David Madden said: "Economic activity is likely to dip on account of the tighter restrictions, and that will probably be the theme of the markets in the near-term.

"The health crisis is ratcheting up in terms of new Covid-19 cases and hospitalisation rates, and there is a sense things are going to get worse before they get better. Medical experts where claiming since the beginning of the health crisis that the virus is likely to resurface in winter, but nonetheless, hear we are and dealers have been rattled by the situation."

Market participants were also looking ahead to the US presidential election on Tuesday.

Richard Hunter, head of markets at Interactive Investor, said: "The polls are showing that the outcome remains uncertain, with Biden still ahead.

"However, from a wider perspective the possibility of a delayed or contested result would put further pressure on markets which have suffered the recent disappointments of renewed lockdown concerns, the lack of an interim fiscal stimulus and even some quarterly results from big tech which were not enough to keep up with lofty expectations."

On the data front, Markit's UK manufacturing PMI for October is due at 0930 GMT.

In equity markets, travel and leisure-related stocks took a hit ahead of the second lockdown on Thursday. British Airways parent IAG, Premier Inn owner Whitbread, engine maker Rolls-Royce, transport operator National Express, budget airline easyJet, Cineworld and pub chains Wetherspoons and Mitchells & Butlers all fell.

Retailers were also weaker, with JD Sports and Next both down.

Primark owner Associated British Foods was under the cosh after saying it expects to lose £375m in sales as new Covid-19 lockdowns across Europe forced the closure of its stores.

Ladbrokes owner GVC lost ground after it warned that core earnings could fall by up to £43m as new coronavirus restrictions were imposed on its European shops.

Shares of outsourcer Serco tumbled after it lost a Ministry of Defence contract to provide nuclear warheads but reiterated its full-year guidance.

On the upside, Ocado rallied as the online supermarket increased its guidance for annual earnings to more than £60m from more than £40m as consumers switch to online shopping. The company also agreed to buy Kindred Systems, a piece-picking robotics company, for about $262m and robotic arm designer Haddington Dynamics for $25m.

Just Eat Takeaway was a high riser amid expectations that people will be ordering in food more once the second lockdown takes effect this week.

Market Movers

FTSE 100 (UKX) 5,574.73 -0.05%
FTSE 250 (MCX) 17,129.83 -0.49%
techMARK (TASX) 3,572.13 -0.15%

FTSE 100 - Risers

Ocado Group (OCDO) 2,421.00p 6.37%
Just Eat Takeaway.Com N.V. (CDI) (JET) 8,780.00p 2.47%
CRH (CRH) 2,762.00p 1.54%
Tesco (TSCO) 208.20p 1.31%
Sainsbury (J) (SBRY) 204.20p 1.29%
Bunzl (BNZL) 2,425.00p 1.04%
Johnson Matthey (JMAT) 2,171.00p 1.02%
Scottish Mortgage Inv Trust (SMT) 1,004.00p 0.96%
GlaxoSmithKline (GSK) 1,303.80p 0.93%
Melrose Industries (MRO) 120.75p 0.92%

FTSE 100 - Fallers

International Consolidated Airlines Group SA (CDI) (IAG) 91.04p -5.60%
JD Sports Fashion (JD.) 703.20p -5.13%
Rolls-Royce Holdings (RR.) 68.18p -4.40%
Whitbread (WTB) 2,054.00p -4.33%
United Utilities Group (UU.) 832.20p -3.61%
Associated British Foods (ABF) 1,637.00p -3.56%
Persimmon (PSN) 2,264.00p -3.08%
NATWEST GROUP PLC ORD 100P (NWG) 120.50p -2.98%
Next (NXT) 5,672.00p -2.88%
GVC Holdings (GVC) 939.00p -2.82%

FTSE 250 - Risers

Airtel Africa (AAF) 64.60p 4.70%
Vivo Energy (VVO) 77.80p 2.91%
Just Eat Takeaway.Com N.V. (CDI) (JET) 8,780.00p 2.47%
Ferrexpo (FXPO) 195.00p 2.36%
Indivior (INDV) 112.70p 2.18%
Howden Joinery Group (HWDN) 650.00p 2.07%
Carnival (CCL) 863.20p 1.72%
Bankers Inv Trust (BNKR) 996.00p 1.63%
Future (FUTR) 2,015.00p 1.56%
Premier Foods (PFD) 93.80p 1.52%

FTSE 250 - Fallers

Cineworld Group (CINE) 25.32p -11.19%
Serco Group (SRP) 120.80p -6.65%
Ibstock (IBST) 150.00p -6.60%
National Express Group (NEX) 140.10p -6.41%
easyJet (EZJ) 474.90p -6.11%
Wetherspoon (J.D.) (JDW) 810.00p -6.03%
XP Power Ltd. (DI) (XPP) 3,760.00p -6.00%
Mitchells & Butlers (MAB) 148.20p -5.48%
Greggs (GRG) 1,218.00p -5.36%
4Imprint Group (FOUR) 1,970.00p -4.83%