Stock prices in London closed mostly lower on Monday, as market sentiment remained cautious and analysts warned that the UK manufacturing sector’s recovery remains uncertain.

The S&P Global UK manufacturing purchasing managers’ index rose to 50.2 points, a 14-month high, from 49.7 in October, with rising output and stabilising new orders pushing the S&P Global PMI above the neutral 50-point threshold.

S&P Global’s Rob Dobson said the improvement was encouraging given the “elevated levels of business uncertainty” ahead of the budget, but warned that growth remains “worryingly weak”.

He said falling factory-gate prices for the first time in over two years point to intensifying competitive pressures.

The FTSE 100 index closed down 17.98 points, 0.2%, at 9,702.53. The FTSE 250 ended down

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