Monday Morning Markets: FTSE Steady as IG Group Rises, Vistry Falls

London’s blue-chips opened little changed on Monday, with the FTSE 100 currently down 0.1% and the FTSE 250 flat, reflecting a somewhat subdued mood across the continent.

The DAX has slipped 0.1%, the CAC 40 is flat and the Stoxx 50 has edged up 0.1%.

Oil is trading slightly higher, with Iran reportedly setting conditions for the reopening of the Strait of Hormuz.

Meanwhile, a takeover tussle for Pharos Energy intensified as Serica Energy declared its 32.7p-a-share cash offer “final,” pushing back against a higher bid from Ratio Petroleum, which already holds irrovocable undertakings over roughly 42% of Pharos shares.

Elsewhere, Marshalls posted resilient half-year results, with adjusted operating profit up 8.1% despite a “subdued” building materials market, while HgCapital Trust said its NAV stabilised in Q2 as strong portfolio trading offset falling software valuation multiples.

On the risers board, Plus500 (+5.43%) leads the FTSE 250 after record H1 results, 12% revenue growth and a $182.5m shareholder return announcement. Hunting (+4.63%) and Aston Martin (+4.26%) also advanced.

In the top tier, IG Group (+1.64%), Glencore (+1.49%) and Scottish Mortgage (+1.40%) have made early gains.

FTSE 250 fallers are led by Vistry (-6.98%), extending a rocky run for the housebuilder after May’s profit warning and boardroom upheaval.

Oxford Biomedica (-3.66%) continued its slide following Friday’s 14.6% plunge on a disappointing half-year update.

In the FTSE 100, Coca-Cola HBC (-2.50%) has pulled back, while Legal & General (-1.58%) and Metlen Energy & Metals (-1.48%) are also lagging.

Looking ahead, key data to watch this week includes US inflation figures on Wednesday, UK GDP and US PPI on Thursday, and US retail sales rounding things off on Friday.