The FTSE 100 is down 0.1% in early trade this morning as oil fell almost 4% on hopes of US-Iran talks. The FTSE 250 is up 0.3%. On the continent, the DAX and CAC 40 were each up 0.1%, and the Stoxx 50 rose 0.2%.
Brent for January is down 3.7% to $109.25 a barrel, and WTI for December lost 3.9% to $100.04.
Iran says it passed a proposal through Qatari mediators. According to reports, Iran says that if the US accepts its demands, “both security will be restored to the Strait of Hormuz and the negotiation process will begin in a short period of time”.
BP has fallen 1.63%, and Shell is down 0.6% amid the fall in crude. IAG has gained 1.96%, possibly helped by cheaper fuel.
| Company | Price | Change |
|---|---|---|
| FTSE 100 | ||
| JD Sports | 94.32p | +2.55% |
| St James’s Place | 1,061.75p | +2.02% |
| IAG | 410.75p | +1.96% |
| Ithaca Energy | 296.60p | -2.05% |
| Endeavour Mining | 3,667.00p | -1.77% |
| BP | 617.35p | -1.63% |
| FTSE 250 | ||
| THG | 41.09p | +4.65% |
| FirstGroup | 223.80p | +3.23% |
| Schroder Asian Total Return | 635.00p | +3.16% |
| Foresight Environmental Infrastructure | 88.65p | -3.00% |
| Foresight Group | 458.50p | -2.97% |
| Dr Martens | 63.50p | -2.90% |
Endeavour Mining said an access ramp at its Mana mine partially subsided on 28 October. No one was harmed, but underground mining at all three active portals is suspended. It says guidance for 2026 is on track, with third-quarter results on 12 November.
FirstGroup agreed a £109m asset sale to West Yorkshire Combined Authority and secured two franchise contracts from May 2027, worth about £40m a year. Chief executive Graham Sutherland said: “We are delighted to have reached an agreement with regards to the sale of our assets and secured these important franchise contracts.”
Ibstock’s third-quarter update said UK brick market volumes were down about 17% year on year in July and August, with weak conditions continuing through September and October. It cut production by about 20% in the quarter against half-year plans. The board expects second-half performance “materially below its previous expectations”, with full-year adjusted EBITDA in the “mid-£40 million range”.
FTSE 100 constituent Metlen Energy & Metals has agreed a binding deal for Shell Global LNG to supply six LNG cargoes a year for five years from 2027, about 0.6 billion cubic metres a year. The gas comes primarily from Shell’s US LNG portfolio and is destined for Greece and other European markets.
IP Group was appointed by Aberdeen Investments to manage a UK venture growth portfolio within the CG Scottish Widows Growth LTAF. Initial investments are expected to include Oxford Quantum Circuits, Quantum Motion, Nyobolt and Genomics Limited.
Elsewhere, gold is trading 0.6% higher at $3,898, and sterling has gained 0.4% against the US dollar to $1.3437.
The Bank of England will announce its latest interest rate decision on Thursday at 12:00. US non-farm payrolls follow on Friday at 1:30 pm UK time.