The FTSE 100 opened 38.67 points higher at 10,697.57 amid optimism over easing tensions between the US and China, ahead of a meeting between Donald Trump and Xi Jinping. Brent crude futures fell 2.13% to USD 101.6 per barrel. US West Texas Intermediate (WTI) declined 2.24% to USD 98.05 per barrel.
Sterling rose to USD 1.3375 from USD 1.3372 at the time of the London equities close on Friday. Against the euro, it eased to EUR 1.1652 from EUR 1.1661.
On the upside, Metlen Energy and Metals climbed 3.12% to €45.60. Antofagasta advanced 2.46% to 3,747p, while Standard Chartered gained 2.41% to 2,335p. Anglo American rose 2.38% to 4,049p, Lion Finance Group added 2.19% to 14,000p, and Barclays increased 1.96% to 471.25p.
On the downside, AstraZeneca fell 0.83% to 12,396p, while Shell declined 0.71% to 3,514p. RELX dropped 0.68% to 2,482p, Reckitt Benckiser Group slipped 0.67% to 4,895p, Severn Trent lost 0.59% to 3,036p, and Unilever edged 0.53% lower to 4,596.50p.
Elixirr International reported a 25% rise in first-half revenue to GBP 89 million, driven partly by a surge in AI-related demand. AI-related revenue climbed 185% to GBP 8.1 million from GBP 2.8 million a year earlier. Organic growth at constant currency was 5%.
Adjusted EBITDA rose 29% to GBP 27.6 million, with the margin expanding to 31.0% from 30.0%, while adjusted profit before tax increased 25% to GBP 25.1 million. Adjusted diluted earnings per share rose 18% to 34.2p.
Oil prices declined sharply amid renewed hopes of diplomacy between the US and Iran. Brent crude lost over 2%, falling below USD 102 per barrel.
US President Donald Trump told Fox News that he would ‘probably’ be open to meeting Iran’s President, Masoud Pezeshkian, on the sidelines of the UN General Assembly in New York this week. Trump could meet with other Gulf leaders and organized a summit with Chinese President Xi Jinping.
JD Sports announced plans to open over 140 shops in Mexico to slow falling sales. The retailer said it reached an agreement with Axo, a Mexico-based retail distributor, to be the franchise operator in the country.
Mexico’s activewear market is valued at about USD 6.5 billion and is tipped to grow to USD 10 billion by 2034, JD said.
Régis Schultz, JD’s chief executive officer, said, “JD’s product offering aligns closely with consumer demand in Mexico and we believe our position at the intersection of sport, music and fashion will deepen the connection we have with that consumer.”
In US, stock futures rose early Monday after the Dow Jones Industrial Average posted a third straight losing week. S&P 500 futures and Nasdaq-100 futures climbed 0.5% and 0.7%, respectively. Dow futures rose 0.44%.
In Asia on Monday, Tokyo's Nikkei 225 gained 1.38% to 65,018.95, while China’s Shanghai Composite jumped 0.97%. Hong Kong’s Hang Seng advanced 0.99%, and South Korea’s Kospi edged up by 1.65%. In India, both the Nifty 50 and the Sensex rose by 0.29% and 0.69%, respectively.