Monday Morning Markets: FTSE Cautious as BT-Verizon News Dominates Early Trading

UK markets have started the week cautiously, with the FTSE 100 slipping 0.1% and the FTSE 250 edging up 0.2% in the opening session. 

On the continent, the DAX is flat, the CAC 40 is off 0.4% and the Euro Stoxx 50 is unchanged.

The headline corporate story this morning is BT Group, after the UK telecoms giant agreed to form a 50:50 joint venture with Verizon, combining their international enterprise operations. 

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Meanwhile, Plus500 announced the launch of CFTC-regulated sports event-based contracts in the US market. 

Astrazeneca and Daiichi Sankyo’s Datroway has been recommended for approval in the European Union (EU), while Enhertu has been approved in the EU.

In commodities, oil has gained over 1% following renewed tit-for-tat military strikes between the US and Iran, reigniting fears over supply disruptions through the Strait of Hormuz.

However, the latest reports state that both sides have agreed to stand down.

Gold, meanwhile, has slipped modestly lower.

FTSE 100 Top Risers:

• Entain (+3.01%) continues to benefit from last week’s announcement of a €425m phased exit from its Central & Eastern European joint venture.
• Lion Finance Group / BGEO (+2.76%) and Scottish Mortgage (+1.63%) also lead the gains.

FTSE 100 Top Fallers:

• Babcock International (-5.31%) remains under heavy selling pressure.
• Endeavour Mining (-2.54%) slides as the gold price dips, dragging the miner lower.
• IAG (-1.53%) retreats as rising crude prices dent the outlook for airline fuel costs.

In the FTSE 250, Bridgepoint Group has surged +9.37% after announcing the acquisition of Kane Anderson Real Estate, a significant expansion of the private equity manager’s real assets platform. 

Housebuilder Vistry Group is the top faller (-2.93%).