"… it really looks as if Spain is teetering on the brink"
- Chris Beauchamp, a market analyst at IG Index
U.K. banks were closed on Monday in observance of the Spring Bank Holiday.
Stocks tumbled on Friday. The benchmark FTSE 100 Index erased 1.14 per cent, or 60.67 points, to 5,260.19. The FTSE All-Share Index declined 1.24 per cent, or 34.44 points, to 2,732.65.
"Everything seems to be going out the window," Chris Beauchamp, a market analyst at IG Index in London, said.
"Yields have shot up once again; it really looks as if Spain is teetering on the brink. It feels like we are getting to a similar point before we saw the bailout of Portugal and Ireland."
© Dukascopy Bank SA