Friday's U.S. relatively strong job data strengthened the case for hawks and sparked a new rotation into sectors such as banks, oil & gas and mining.

However, homebuilders are among the biggest fallers, after UK authorities ordered companies in the sector to pay $5.4 billion to remove dangerous cladding from buildings to help prevent another disaster such as the Grenfell Tower fire in June 2017, in which 72 people were killed.

This week, investors will focus on the November UK GDP figures. They are widely expected to show a good increase, help by consumer spending, as this was before the spread of the Omicron variant.

 

Things to read today:

Goldman Expects Four Fed Hikes, Faster Runoff in 2022 (Bloomberg)

Small Businesses struggle to survive soaring UK energy prices (Financial Times)

Bond Selloff Rattles Market (WSJ)