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Monday Morning Markets: FTSE Edges Higher as Oil Slides Despite Iran Tensions

London’s blue-chips are trading higher at the start of the week, tracking gains across European bourses.

The FTSE 100 rose 0.4% and the FTSE 250 added 0.6%, while on the continent the DAX gained 0.7%, the CAC 40 climbed 0.5% and the Stoxx 50 led with a 0.9% advance.

In commodities, Brent crude has declined 2.1% to $101.65 a barrel and WTI is down 2.3% to $93.91, even as tensions in the Middle East remain elevated.

Iran has warned it expects the US to resume military action and insists the Strait of Hormuz will stay closed for now, while Trump administration officials continue weighing further strikes on Iranian and Houthi targets.

Gold slipped 0.7% to $4,348 an ounce and silver eased 0.6% to $65.86.

Separately, the Guardian reports the Iran conflict is complicating the UK Chancellor’s Budget arithmetic, with Andy Burnham among Labour figures pressing for a rethink on fiscal policy.

Barclays (+2.06%) leads FTSE 100 risers alongside Polar Capital Technology Trust (+2.05%) and Metlen Energy & Metals (+2.04%), the latter boosted by news that Yannis Masvoulas has joined as IR Senior Director.

On the downside, energy majors BP (-1.58%) and Shell (-0.82%) fell in step with the crude price slide, while Rentokil Initial (-0.85%) and Barratt Redrow (-0.82%) also lagged.

In the FTSE 250, Shawbrook Group jumped 4.87%, Schroder Asian Total Return gained 3.16% and DiscoverIE rose 2.92%. Fallers included Wetherspoon (-2.68%), Saga (-2.14%), WAG Payment Solutions (-1.69%) and WPP (-1.56%).

Elsewhere, AstraZeneca secured two positive CHMP opinions for Klygefa and Enhertu in early breast cancer.

Craneware posted FY26 results, with shares falling plunging over 21%.

Rightmove announced boardroom changes, and JD Sports revealed a Mexico entry via Grupo Axo. Jefferies trimmed its Smiths Group target to 2,675p, keeping Hold.

Sam Boughedda
Team Member

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.