The FTSE 100 and FTSE 250 were both up 0.5% in early trading on Monday morning. Brent fell 1.7% to $109.77.
Oil eases, but the reprieve looks fragile
The DAX rose 0.7%, the CAC 40 0.8% and the Stoxx 50 0.4%. Spot gold gained 0.6% to $4,020, while GBPUSD slipped 0.2% to 1.3346. WTI fell 2.3% to $100.89.
Oil fell on hopes of easing US-Iran hostilities. BP fell 1.4% and Shell 0.5% alongside crude. Analyst Vandana Hari of Vanda Insights said:
“Concerns over renewed military hostilities in the Middle East, which drove much of last week’s crude rally, have eased this morning, but the reprieve may prove temporary.”
Vandana Hari, Vanda Insights
According to CNN, citing two US officials, US forces could launch potentially major operations against Iran within 96 hours of an order, most likely after the 3rd of November US midterms. The officials said Trump had not decided.
Movers: Computacenter, Plus500, Molten Ventures
| Company | Price | Change | Why |
|---|---|---|---|
| Computacenter | 4,911p | +6.88% | FY26 profit expected at no less than £425m |
| Babcock | 971p | +3.36% | – |
| IG Group | 961.75p | +2.83% | CFO share purchase |
| Experian | 3,049.5p | -1.93% | – |
| BP | 629.4p | -1.41% | Oil fell alongside |
| SSE | 2,494p | -1.15% | – |
| Molten Ventures | 702.5p | +4.79% | Half-year update issued today |
| Plus500 | 3,436p | +4.50% | Q3 update |
| Rank Group | 80.85p | +4.44% | – |
| Utilico Emerging Markets Trust | 273p | -4.88% | – |
| BlackRock Smaller Companies Trust | 265.25p | -2.62% | – |
| Integrafin | 373.25p | -2.58% | – |
Computacenter expects FY26 adjusted pretax profit of no less than £425m, against company-compiled consensus of £387.1m.
Stock news: Man Group, GSK and IG
IG rose after Chief Financial Officer Clifford Abrahams disclosed buying 10,000 shares at 943.99p (£94,399.10) on Friday, the likely driver of today’s gain. The notice gives no reason and no total holding.
Man Group, a FTSE 250 constituent, was up about 3.7% at 325.25p in early trading after announcing an expanded partnership with Meiji Yasuda.
Meiji Yasuda intends to raise its commitment to Man’s strategies to JPY 200bn (about $1.25bn) over three years, focused on private credit, and will consider buying about 5% of Man in the open market, with no new shares issued.
A three-year lock-up applies, with a standstill cap of 19.99%. Financial terms were not disclosed. Robyn Grew, CEO of Man Group, said:
“The intention to acquire an equity stake reflects our shared vision for the future and further aligns the long-term interests of both companies.”
Robyn Grew, CEO, Man Group
GSK, a FTSE 100 member, was up 0.87% at 1,910.5p as it presented data at the ESMO Congress in Madrid. Its B7-H4 antibody-drug conjugate Mo-Rez showed a 62% confirmed response rate (28 of 45 patients) in platinum-resistant ovarian cancer in the phase Ib BEHOLD-1 study.
In the AZUR-1 phase II study, 76% of rectal cancer patients (110 of 144) taking Jemperli had a complete response. The study is single-arm and open-label, and the independent-review primary endpoint is still maturing. The releases give no sales or financial impact.
Week ahead: Budget, Fed, ECB and BoE
| Day | Release (UK time) | Previous | Calendar estimate |
|---|---|---|---|
| Today | Ifo business climate, 09:00 | 89.9 | 89.8 |
| Tuesday | US Durable Goods Orders MoM for September | 0% | 0.4% |
| Wednesday | UK Budget, 12:30 | – | – |
| Wednesday | Fed decision, 18:00 | 4 | 4 |
| Thursday | ECB decision, 13:15 | 2.65 | Unchanged |
| Thursday | US Q3 GDP, 12:30 | 2.2% | 3.2% |