17:11 — FTSE 100 closes Monday lower as AstraZeneca drags all day
London's FTSE 100 closed negative, down 10 points or 0.1% at 10,857 points.
It ended a session that drifted from a tepid open near 10,873 into negative territory by mid-morning and never really recovered.
AstraZeneca (LSE:AZN) was the main drag, with the index heavyweight closing down 9.47% at 11,436p, after reports emerged of preliminary merger talks with Bristol Myers Squibb that would create a near-$400bn pharmaceutical group.
Evidently, investors question the logic of the UK's biggest drugmaker taking on a smaller US rival. The selloff wiped a substantial chunk off London's benchmark on its own and offset the risk-on tone that lifted equities elsewhere.
That broader risk-on mood traced back to Brent crude's collapse, which last indicated around $82.90 a barrel, down around 5% after President Trump called off planned strikes on Iran and pointed to resumed peace talks.
Elsewhere in the index, Clarkson (LSE:CKN) was a standout gainer, closing up 8.77% at a fresh 52-week high near 5,145p on interim results showing underlying pre-tax profit of £61.5m, up from £39.4m a year earlier, alongside a raised interim dividend.
Rentokil added 2.52% to 353.5p, hitting a session high, while ICG (LSE:ICG) and St James's Place also finished firmer.
The small-cap board ran hot all day: Bsf Enterprise (LSE:BSFA) closed up 41.18% on a US joint venture heads of terms for its T-Rex Leather business, Georgina Energy (LSE:GEX) added 31.84% after completing a further £500,000 fundraise, Genflow Biosciences (LSE:GENF) rose 16.42% on SIRT6 patent progress, and Amigo Resources (LSE:AMGO) gained 10.11% after producing its first 5kg of gold in Tanzania.
Kavango Resources (LSE:KAV) rose 7.41% as commissioning began at its Hillside gold plant in Zimbabwe, while Wildcat Petroleum (LSE:WCAT) fell 11.76% after announcing plans to move its listing to the Aquis Growth Market, and First Development Resources (AIM:FDR) dropped 16.67% despite completing the first stage of drilling at its Lander West prospect in Australia.
16:25 — FTSE turns negative at 10,844 as Vodafone, Shell and Flutter deals land
The FTSE 100 has slipped into the red, down 24 points, or 0.22%, to 10,844.05, pulling further away from a DAX still up 1.61% at 26,041.24 and a Wall Street session extending Friday's gains (S&P 500 +1.19%, Nasdaq Composite +1.77%, Dow +1.07%). London's underperformance against both Frankfurt and New York has widened through the afternoon rather than narrowed.
Vodafone (LSE:VOD) has completed the sale of VodafoneZiggo to Liberty Global, closing out one of the session's standing corporate threads.
Shell (LSE:SHEL) has sold its European onshore renewables unit to TotalEnergies, part of the continued reshaping of its energy portfolio.
Essar has set out plans for a £4.3bn hydrogen energy hub at Stanlow.
Flutter Entertainment (LSE:FLTR) has completed its delisting from the London Stock Exchange (LSE:LSEG), formalising a move flagged earlier in the session.
EasyJet (LSE:EZJ) has aligned bid deadlines for Apollo and Castlelake, tightening the timeline on its takeover interest.
AstraZeneca (LSE:AZN) remains pinned nearits session low at 11,576p, down 8.36%, with no fresh print since the morning's Bristol Myers Squibb merger-talk hit; Brent crude has still produced no confirmed tape print all session, with only indicative pricing showing it off around 5% near $82.89. Ig Group (LSE:IGG) holds at -8.7% at 1,333p for a second consecutive cycle, still without an attached explanation. Clarkson (LSE:CKN) remains the session's standout gainer, at a fresh 52-week high of 5,100p, up 7.82% on its interim results, while Kingfisher (LSE:KGF) (+3.37%, 319p) and Relx (LSE:REL) (+3.15%, 2,689p) sit at session highs among the broader advancers.
14:46 — Dow climbs 1% as Wall Street opens higher
Wall Street's cash open has confirmed the higher start signalled by futures all morning, with the Dow opening up 577 points, or 1.1%, to 53062.
The S&P 500 similarly added 0.72% to 7,543, and the Nasdaq Composite gained 0.91% to 25,603.
London is not following through. The FTSE 100 sits at 10,858, down 0.09%.
13:11 — Wall Street benchmarks seen higher on Iran relief
Early indicators points to a firmer Wall Street open, with IG Market's premarket quotes showing the S&P 500 indicated up 0.48% to 7527.
The Dow meanwhile was indicated up 1% to 53,031, and the Nasdaq 100 was called a more modest 0.05% higher to 28,296.
London's tape has spent the morning wrestling against the weight of the AstraZeneca (LSE:AZN) story, which, in metrics alone, cuts against that relief.
AstraZeneca, on of the biggest weights on the London index, was down around 6% at 11,881.31p, on reports it held merger talks with Bristol Myers Squibb on a deal valued near $400 billio.
Elsewhere, Clarkson (LSE:CKN) remains among the morning's gainers, up 7.61% to a fresh 52-week high of 5090p on its interim results, while Melrose Industries (LSE:MRO), Kingfisher (LSE:KGF) and easyJet (LSE:EZJ) are also at session highs.
12:30 — FTSE 100 flat at 10870.89 as Clarkson climbs to record high on H1 profit
The FTSE 100 sits at 10,870, in other words it's barely moved compared to Friday's close - though it has recovered from this morning's brief dip into negative territory.
AstraZeneca (LSE:AZN) remains the anchor on what would otherwise have been a relief rally as the latest round of the Iran war news cycle helped bring down the price of oil and improved risk appetites.
AJ Bell (LSE:AJB)'s Russ Mould described the mood as "déjà vu for investors all over again as hints of a rapprochement between the US and Iran saw oil prices fall and risk sentiment improve".
11:10 — Oil price eases as much as 5% on latest Iran relief
Donald Trump's decision to call off planned strikes on Iran in favour of Hormuz negotiations has driven Brent crude down roughly 5% to $83.50 a barrel, having touched lows of $81.55 earlier in the session.
Gold has firmed alongside the oil decline, edging up 0.15% to $4,113 an ounce.
10:30 — BSF Enterprise the small-cap mover to watch on Monday
On the small-cap board, the most dramatic mover is Bsf Enterprise (LSE:BSFA), now up around 65% to 1.4p, on heads of terms for a US joint venture.
Elsewhere, Georgina Energy (LSE:GEX) swung to +33.23% at 13.39p after announcing completion of an additional fundraise.
Kavango Resources (LSE:KAV) added 16.3% to 0.785p after announcing commissioning has begun at its Hillside gold processing plant in Zimbabwe, while Amigo Resources is up 11% on news its Tanzanian operation has produced its first 5kg of gold.
Mila Resources has risen 9.09% on plans for its next (LSE:NXT) phase of drilling at the Yarrol gold project, and EDX Medical is up 8.81% after its rapid pneumonia test went live in NHS intensive care.
First Development Resources (AIM:FDR) is the session's outlier faller among the small caps, down 7.41% after confirming completion of Phase I drilling at Lander West.
The FTSE 100 itself is flat at 10,866,
Kingfisher (LSE:KGF), Melrose Industries (LSE:MRO) and easyJet (LSE:EZJ) are among the session's firmer large caps, each sitting at or near session highs.
09:50 — AstraZeneca slides on Bristol Myers merger talk, drags FTSE
AstraZeneca (LSE:AZN) is the Monday session's real story, as the shares fell close to 9% lower after reports emerged that Britain's biggest drugmaker held talks to takeover US rival Bristol Myers Squibb, in a deal that would create a near-$400bn pharmaceutical group.
As a heavyweight in the index, its a drag on the FTSE 100, which sits at 10,856.43, down 0.11% on the session.
Other headlines in front of investors on the first trading day in August included Trump's hint at a US-Iran deal over the Strait of Hormuz, which pulled oil sharply lower, with Brent pricing down 4.4% drop.
It's a real, but not-entirely-trusted signal toward a relief to risk appetite broadly.
Market pundits at AJ Bell (LSE:AJB) claimed sentiment has improved on the US-Iran talks and falling oil, and without the AstraZeneca deal speculation, the index would've been seen higher.
Elsewhere, Kosmos Energy (LSE:KOS) remains the day's biggest single-stock mover, up 16.57% to 204p at a session high, with second-quarter results.
Antofagasta (LSE:ANTO) meanwhile extended to a session high of 3,747p, up 2.52%,.
While Ithaca Energy (LSE:ITH) and Rentokil sit at the weak end of the large-cap board, down 4.13% and 2.57% respectively, with Rentokil at a fresh 52-week low.
09:01 — Kosmos Energy, Melrose and Antofagasta among Monday's early risers
Kosmos Energy (LSE:KOS) remains the session's standout mover, up 16.57% to 204p and sitting at its session high after the group's second-quarter results landed this morning.
Melrose Industries (LSE:MRO) has added to the morning's gains, up 3.46% to 470p, while Antofagasta (LSE:ANTO) has climbed 2.52% to 3747p, also at its session high.
On the other side of the board, Ithaca Energy (LSE:ITH) has extended its early loss to 4.13%, trading at 232.2p though still at its session high. Rentokil Initial (LSE:RTO) has slipped further to a fresh 52-week low of 335.939p, down 2.57%, while Shell (LSE:SHEL) and Harbour Energy (LSE:HBR) are both lower at 3308p and 233.8p respectively.
Among the smaller movers, Bsf Enterprise (LSE:BSFA) continues to hold its gain at 15.29% on its US joint venture heads of terms, with DP Poland (AIM:DPP) up 7.14% to 7.5p after confirming Łukasz Ostrowski as its new chief executive. Invinity Energy Systems (AIM:IES) has added to its gain, up 5.76%, after disclosing its largest order to date, a 43 MWh battery sale to Dairyland Power Cooperative in the US Midwest.
08:21 — FTSE 100 makes tepid start to Monday's session, Kosmos Energy leads risers
The FTSE 100 marked a tepid open on Monday, at 10,873.
Among the early movers was Kosmos Energy (LSE:KOS), up 16.57% to 204p and sitting at its session high, well clear of the rest of the board.
Meanwhile, Melrose Industries (LSE:MRO) and International Consolidated Airlines Group (LSE:IAG) are both up around 3%.
Oil producer Ithaca Energy (LSE:ITH) is the session's weakest large-cap, down 4.16% to 232.11p, with Rentokil Initial (LSE:RTO) off 2.29% to 336.9p and printing a fresh 52-week low.
Among the morning's smaller-cap movers, Bsf Enterprise's US joint venture heads of terms has driven the stock up 15.29% to 0.98p, while Microlise's H1 trading update, flagging 12% growth in Direct Customer ARR and improved margins against H2 2025, has lifted the shares 6.05% to 41.89p.
Invinity Energy Systems (AIM:IES) is up 5.76% after confirming a 43MWh battery sale to Dairyland Power Cooperative for deployment across the US Midwest, and EnSilica (AIM:ENSI) has added 5.17% on a second satellite contract win.
07:25 — Crude slides as futures point to firmer London open
London's FTSE 100 is called higher ahead of Monday's open, with IG Markets early quote making the price 10,893, up 0.15%, versus Friday's close at 10,877.
Crude oil, meanwhile, is a notable price story as it dropped more than 5% with Brent trading at $82.47 per barrel and WTI off 6% to $78.22, after the latest Trump back-down over last week's threatened Iranian strikes.
The price of gold continued to firm, up 0.39% at $4,123 an ounce against a softer dollar, with the dollar index down 0.23%.
06:45 — FTSE 100 seen positive in early quotes
The FTSE 100 is seen firmer ahead of Monday's open, with IG's early pre-market quote marked at 10,909.6, up 32.6 points from Friday's close.
The call follows a stronger finish on Wall Street heading into the weekend, with the Dow up 360 points, or 0.69%, to 52,568.6, the S&P 500 climbing 0.88% to 7,503.31 and the Nasdaq Composite adding 1.19% to 25,420.5 in Friday's session.
In Asia, overnight, Japan's Nikkei 225 slipped 714 points, or 1.11%, to 63,648.0.
The Brent crude oil price is seen easing sharply, reducing 5.5% to $82.57 a barrel.
The dollar is meanwhile indicated softer, and gold is pricing around $4,111.5 an ounce.
Bitcoin was marked 1.21% lower to $62,726 and Ethereum was down 1.48% to $1,855.
