London's FTSE 100 opened on the back foot on Monday, falling by 8 points to 8,245.
Bookmakers were among those facing hefty declines as reports that the government was planning a £3 billion tax raid on gambling firms in the upcoming Budget emerged.
Shares in Entain and Flutter tumbled as a result, alongside those in William Hill owner Evoke.
Elsewhere, easyJet was slightly off the mark after announcing Jan De Raeymaeker would join the company as chief financial officer early next year.
Meanwhile, fashion firm Mulberry soared after news of a takeover bid by Mike Ashley’s Frasers Group on Friday.
And finally, Britain’s government pledged to “hardwire stability for investors” through a new industrial strategy ahead of Monday’s major International Investment Summit in London.
