17:16 — FTSE 100 closes lower as Wall Street makes a stronger start to the week
London closed out its lowest levels of the day, with the FTSE 100 settling at 10,532.51, down 0.64%, while an IG out-of-hours quote at 10,518.8 (-0.23%) confirmed the index never escaped its losing band through the entire session.
The untethered trend from Wall Street was the afternoon's notable feature, as London closes the S&P 500 was around half a per cent higher at 7,493.14, whilst the Nasdaq Composite was nearly 1% higher at 25,750.09 (+0.9%).
15:36 — FTSE slips to 10,525 as Wall Street's early strength itself fades
The FTSE 100 extended its retreat into Monday's afternoon trade, with the index now down 0.71% to 10,525.
On Wall Street, meanwhile, blue-chip stocks couldn't hold the early enthusiasm, tempered somewhat.
The S&P 500 slipped back to 7,477.26, leaving it only 0.26% higher from its open above 7,511.
The Nasdaq Composite's gain eased to 25,668.98, from an opening 25,810.
At the same time, the Dow has turned negative, down 0.33% at 51,975.2 having opened positively.
14:46 — Wall Street opens firmly higher but FTSE 100 fails to follow
Wall Street's cash open landed in positive territory, with the S&P 500 is up 0.73% to 7,511.
The Nasdaq Composite jumped 1.14% to 25,810.
London isn't following. The FTSE 100 sits at 10551.22, down 0.46% on the day. Really, it was a simple summertime story, more fallers than risers (with nearly 60% of the benchmark's constituents lit in red).
14:01 — FTSE 100 remains rangebound ahead of US open
In London, the FTSE 100 remained rangebound at 10,573.46, down 0.25%.
Meanwhile, looking to Wall Street, premarket indicators point to a firmer session, with the S&P indicated up 0.37% and the Nasdaq 100 up 0.87%.
13:11 — Wall Street seen higher as US Iran-driven oil trade dominates ahead of open
Early indicators point to a firmer US open on Monday, with the S&P 500 indicated up 0.4% and the Nasdaq 100 up 0.87% ahead of the cash session.
The Dow meanwhile is indicated 0.22% higher.
Monday's oil story remains the connective tissue across the Atlantic ahead of the US session. Brent and WTI both traded above $90 through the London morning on the US-Iran escalation.
Heading into London's afternoon, however, Brent was easing back slightly, to $86.77, whilst WTI moved to $81.40.
Deutsche Bank's Jim Reid, in a note, pointed to the weekend intensification in Trump's war with Iran, and broadened Iranian retaliation, as the factor in both the renewed energy price squeeze and rising rate-hike odds; now predicted at 54% for the US and 60% for the UK by September on oil-driven inflation concern.
11:50 — Croma Security Solution climbs on 'slightly ahead' trading
Croma Security Solutions (AIM:CSSG) shares traded higher, rising 5.26% to 72.1p, a move that follows this morning's trading statement which revealed a performance described as slightly ahead of expectations.
The AIM-listed locksmith and security systems group expects full-year revenue of approximately £11.0 million for the year ended 30 June, slightly ahead of market expectations and up around 15% from £9.6 million in FY2025.
It said EBITDA should also come in marginally ahead of expectations at around £1 million, against £1.1 million the prior year, reflecting planned increased investment in the business flagged at the interim results.
Growth was driven by two acquisitions completed in the second half and continued organic demand from retail and commercial customers investing in security infrastructure amid tightening regulatory requirements.
Elsewhere, Kazera Global (AIM:KZG) remains the session's standout gainer, up 13.45% after confirming receipt of a $750,000 strategic partnership payment, while Plexus Holdings is 10.17% higher on its new engineering agreement with Cactus Wellhead LLC.
The FTSE 100, meanwhile, remained little changed, at 10,554.06, down 0.44% for the day, with names on the fallers list outnumbering the gainers.
11:10 — Ryanair profit falls 7% on fuel costs
Ryanair (LSE:0RYA)'s first-quarter numbers have finally landed, and they confirm the guidance concerns flagged earlier in the session: net profit of €538m for Q1 FY27 missed consensus of €579m by 7%, with rising jet fuel costs the stated driver as the airline's hedging protection against the Iran conflict's crude spike has now expired.
Deutsche Bank analyst Jaime Rowbotham, in a note, said that despite a recent uptick in volumes and less price stimulation, second-quarter fares are trending "modestly down" year-on-year, though the broker still argues Ryanair is well placed to handle further Middle East escalation and holds its Buy rating with a €30.00 target.
10:31 — Gulf Keystone shuts in Shaikan output as Iraq security risk hits crude producers
Gulf Keystone Petroleum, the Northern Iraq-based small-cap oil producer, announced it has temporarily shut in operations at its Shaikan field in Kurdistan.
It is described as a safety precaution amid the deteriorating regional security environment.
GKP, which traded down 5.27% on Monday to 165.4p, added that its assets remain undamaged and that gross production from Shaikan had been running above 45,000 bopd before the halt.
The FTSE 100 is at 10,557.9, down 0.4% for Monday's session.
09:51 — Oil above $90 a barrel, North Sea names higher, whilst FTSE stays red
The FTSE 100 is sitting at 10,569.09, down 0.3% and essentially where it was an hour ago, with around 60% of its constituents coloured red.
Brent crude has pushed above $90 a barrel on the US-Iran escalation, and that's the thread running through the morning's clearest sector story rather than any single domestic catalyst.
Ithaca Energy (LSE:ITH) and Harbour Energy (LSE:HBR), also enjoying a Burnham boost, remain notable performers among oil stocks, up 4.75% at 247.6p and 3.78% at 242.2p respectively.
BP and Shell (LSE:SHEL) too were in positive territory, but only slightly.
The broader market read, however, is that the crude spike is reviving an inflation narrative even against softer US CPI and PPI prints.
09:01 — North Sea names extend gains
Ithaca Energy (LSE:ITH) and Harbour Energy (LSE:HBR) are among the session's notable stories as Andy Burnham formally begins his tenure as Prime Minister.
Both of the North Sea oil and gas stocks are at their session highs.
Ithaca was up 4.75% to 247.6p, and Harbour Energy has added 3.78% to 242.2p.
Burnham's anticipated openness to prolonging North Sea operations (and perhaps a more supportive, or at least less punitive, fiscal arrangements) are not the only politics story in the oil market for traders - as the latest escalations in Trumps on-off war with Iran also see global oil prices higher on Monday.
The FTSE 100 itself remains pinned in negative territory at 10,552.8, down 0.28% on the session, with the session's losers still heavily outnumbering gainers across the index.
08:20 — FTSE 100 opens into negative territory as market awaits Burnham
The FTSE 100 opened into negative territory, as expected, marking a 40-point dip to 10,596.05, from last Friday's 10,571.76 close.
Meanwhile, buoyed by noises coming out of Downing Street, Ithaca Energy (LSE:ITH) leads Monday's early gainers, up 3.68% to 245.10p, as the North Sea producer is positioned among the beneficiaries as Andy Burnham's government is fancied to loosen scrutiny toward the oil and gas sector.
Burnham is expected to be formally named Prime Minister later today, following Friday's confirmation that he had been selected as the new Labour leader.
In mining, South32 (LSE:S32) was another name bucking the weak tape, up 2.61% to 209.33p and sitting at its session high after its quarterly report showed production ahead of full-year guidance.
The Segro (LSE:SGRO) takeover saga (LSE:SAGA) continues to develop: Prologis confirmed a third proposal to Segro's board, this time introducing a partial cash alternative.
Elsewhere, AEW UK REIT (LSE:AEWU)'s possible offer for Alternative Income REIT (LSE:AIRE) remains a live situation, with the target's board confirming the approach contains inside information but no firm terms yet disclosed.
Monday's biggest early move comes in the small-cap segment, as Celsius Resources fell as much as 43%, to 0.004p, after the miner moved to dispute a default claim on its Makilala loan, an update filed alongside the price collapse.
08:05 — Prologis makes third approach for Segro as bid battle escalates
Segro (LSE:SGRO) is at the centre of the morning's biggest corporate story after Prologis confirmed it has made two further proposals to the SEGRO board since its initial approach on 24 June, with this third proposal now introducing a partial cash alternative. These approaches, which stop short of being firm offers under City rules, mark a clear escalation in the warehouse landlord's takeover situation.
Elsewhere, MedPal AI has acquired Solid State Technologies, trading as eMARx, a UK provider of electronic medication administration record software to care homes and pharmacies. The company says the deal completes its Health OS platform across the care home sector and opens the door to a national roll-out from its robotic dispensing hub.
Zenith Energy has signed a binding letter of intent to acquire an Italian biogas development company, taking on a fully permitted, construction-ready project expected to produce around 3 million cubic metres of methane gas once operational.
Croma Security Solutions (AIM:CSSG) flagged revenues and profits slightly ahead of expectations for the year to 30 June. Smaller resources names are also active this morning, with fresh corporate updates from Sunrise Resources (AIM:SRES), Savannah Resources (AIM:SAV) and Technology Minerals (LSE:TM1) adding to a dense start to the week for company news.
Deutsche Bank has reiterated Hold on GSK (LSE:GSK) at a 1,950p target following mixed results from its camplipixant trial, while raising its Bridgepoint Group target to 430p on a first-half beat and maintaining Buy on Burberry at 1,480p despite in-line first-quarter sales.
06:45 — FTSE set for cautious open as market looks for impetus
London enters the week cautiously, with the premarket indicators pointing to a slightly lower start to Monday.
Quoted at 10,560 by IG Index, the FTSE 100 was indicated down around 0.21% ahead of the open.
It comes as Asia opened the week under pressure. Japan's Nikkei 225 dropped 4.03% to 64,141.12, extending the risk-off tone that closed out Wall Street's week on Friday.
The S&P 500 fell 0.92% to 7,464.23 at Friday's close, with the Dow off 0.69% to 52,192.98 and the Nasdaq Composite down 1.23% to 25,563.71, a broad tech-led retreat heading into the weekend. The CBOE Volatility Index jumped 9.92% to 18.39 in that same Friday session, its sharpest percentage move among the major gauges, signalling elevated hedging demand as the week closed.
Crude had firmed overnight, with Brent indicated up 2.34% this morning at $88.98 whilst WTI crude was up 2.47% at $83.79.
The dollar index is marginally softer at 100.715, sterling is indicated a touch firmer against the dollar at 1.3467, and gold is little changed at $4,014.9..
