London Markets

There was some rotation on Monday away from stocks that thrived during the COVID-19 pandemic and into the banking sector, as England opened its doors to pubs and hairdressers.

Rightmove RMV, -2.91%, the U.K. housing website operator, dropped over 3%, the worst performing component in the FTSE 100. Also lower was supermarket delivery company Ocado OCDO, -2.74%, as well as home-improvement chain Kingfisher KGF, -2.53%.

U.K. banks, however, advanced, with gainers for Barclays BARC, +0.96%, NatWest Group NWG, +0.76% and Lloyds Banking Group LLOY, +0.76%. The pound GBPUSD, +0.40% also rose.

Monday marked the reopening date for outdoor pubs, shops and hairdressers in England.

The mini rotation came amid a decline for the FTSE 100 UKX, -0.32%, with stocks globally retreating in the face of negative news out of Asia, and in particular India 1, -3.44%, on coronavirus cases.

Read: Brits bent on spending spree as pubs, shops, gyms and hairdressers reopen in England

Barron's: Oil Has Been Slipping. Here’s What to Watch for Next.

Crude prices are up 20%-plus in 2021 as the global economy reopens.

Steve Goldstein

Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.