The FTSE 100 opened 70 points higher at 10,540 as optimism around the US-Iran peace negotiations lifted sentiment, outweighing a fresh surge in oil prices that pushed Brent crude back towards $100 a barrel. Brent crude futures rose 2.87% to $98.90 a barrel. US West Texas Intermediate (WTI) fell 4.38% to $92.37 a barrel.
Kingfisher rose 4.14% to £304.30, while Endeavour Mining advanced 3.22% to £4,426 and International Consolidated Airlines Group gained 2.77% to £407.90.
Also, Glencore climbed 2.57% to £583.70, while Rio Tinto added 2.42% to £7,965 and Metlen Energy & Metals moved higher by 2.26% to £39.86.
On the downside, Melrose Industries declined 4.87% to £484.80, while Rightmove slipped 3.16% to £426.70 and Auto Trader Group fell 2.80% to £441.70.
Among other laggards, Shell eased 0.36% to £3,193.50, while Admiral Group dropped 0.29% to £3,470 and Diploma edged lower by 0.07% to £7,020.
UK fintech forecasts a hiring surge as the sector matures past the high-growth era of neobanks and focus shifts to the rise of software and payments-focused firms.
Morgan McKinley forecasts fintech hiring to rise 14% in 2026, after a robust 28% growth in 2025.
London is expected to take the lion's share of this at around 71%. Mark Astbury, a director at Morgan McKinley, said: “This is not a slowdown in momentum, but a reorientation of where growth is occurring.”
Kingfisher saw like-for-like sales shrink 0.7% in the first quarter but the B&Q and Screwfix owner said it remains on track to meet full-year guidance.
The DIY retailer reported total sales up 1.4% to £3.3 billion for the three months to 30 April.
Chief executive Thierry Garnier called it a "resilient start... gaining market share against a soft market backdrop... even as a late start to spring impacted footfall and seasonal demand".
Competition among UK supermarkets has pushed food inflation to its lowest level in a year, despite warnings that the Iran war will push up prices.
Heavy discounting saw food inflation fall from 3.1% last month to 2.7% in May, according to data by the British Retail Consortium (BRC) and NIQ.
“Businesses cannot absorb these costs indefinitely, which risks pushing prices higher in the months ahead. To help protect households, the government should take action to reduce business costs,” the BRC’s chief executive Helen Dickinson said.
Also Read: Best Stocks to Buy Now for June 2026: Top Picks for Smart Investors
Wall Street, which was closed for a public holiday on Monday, futures are currently pointing to positive gains, with the Dow Jones and S&P 500 expected to open 0.7% higher, and the Nasdaq 100 expected to jump 0.9%.
In Asia, Tokyo's Nikkei decline 0.25%, while Hong Kong's Hang Seng gained 0.05%, China’s Shanghai Composite fell 0.17%, Seoul's Kospi has added 2.55%, and Sydney's ASX 200 dipped 0.39%. In India, both the Nifty 50 and Sensex declined 0.15% and 0.27%, respectively.
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