FTSE 100 Live: Index Declined 9.80 points to 10,891.29 Amid Concerns Over the Strait of Hormuz, Brent at $83.62

The FTSE 100 opened 9.80 points lower at 10,891.29 amid concerns over the Strait of Hormuz, as Iran ruled out an agreement to open the shipping route unless the US meets its demand. Brent crude futures rose 0.08% to $83.62 per barrel. US West Texas Intermediate (WTI) fell 0.09% to $78.11 per barrel. 

Sterling fell to $1.3487 from $1.3498 at the time of the London equities close on Friday.

Gainers & Losers 

On the upside, Glencore surged 2.55% to 571.2p. Antofagasta advanced 1.91% to 4,057p, while IG Group Holdings climbed 1.71% to 1,366p. Scottish Mortgage Investment Trust gained 1.33% to 1,415p, Endeavour Mining rose 1.31% to 4,099p, and Anglo American added 1.27% to 4,073p.

On the downside, Coca-Cola HBC fell 2.70% to 4,826p. British American Tobacco declined 1.45% to 4,357p, while Admiral Group slipped 1.44% to 3,830p. Bunzl dropped 1.19% to 2,836p, Reckitt Benckiser Group fell 0.60% to 5,274p, and London Stock Exchange Group edged 0.45% lower to 8,880p.

UK Job Market Shows Improvement

KPMG and the Recruitment & Employment Confederation said the UK jobs market is showing "rays of light" on Monday. 

The REC/KPMG permanent placements index registered 50 in July, up from 49.1 in June, while the temporary billings index eased to 51.9 from 52.9 but remained among the fastest growth rates since early 2023. 

"Despite ongoing uncertainty, it’s encouraging that businesses are starting to press ahead with investment," said Callum Licence, KPMG UK & Switzerland Group Head of Advisory.

Plus500 Revenue Jumps 12%

Plus500 has recorded strong returns after delivering its highest customer income in five years following its expansion into the US market. The fintech witnessed revenue of $462.9 million for the first half of the year, up 12% year-on-year. 

Meanwhile, customer income, which measures revenue generated directly from client trading activities, surged 24% to $461 million. 

The group revealed another $182.5 million (£135 million) in investor returns on Monday, made up of a $100 million buyback and $82.5 million in dividends. This put the firm’s total capital handed back to shareholders since its 2013 IPO at $3.1 billion.

Serica Holds its Bid for Pharos Energy 

Serica has said it will not raise its £146 million bid for Pharos Energy, despite being outbid by an Israel-based rival. 

AIM-listed Serica tabled its £145.7 million ($196.59 million) offer for Pharos, a London-listed oil and gas exploration firm, at the end of last month. 

However, it was later outbid by Israeli firm Ratio Petroleum, which raised its offer to about £146.4 million ($196.97 million) and won the recommendation of Pharos’s board. 

Serica said on Monday that it will not be making an improved offer, owing to its “highly disciplined approach to M&A”. 

Also Read: Stock Market Update: Nifty 50 Opened 0.04% Higher, Sensex Started Flat Amid Rise in Brent Crude

Global Market View

In the US, Wall Street finished Friday with the S&P 500 at a fresh record high and the Nasdaq up more than 1%, after US jobs figures came in weak.

In Asia on Friday, Tokyo's Nikkei 225 rose 2.08% to 66,970.22, while China’s Shanghai Composite gained 0.67%. Hong Kong’s Hang Seng advanced 1.05%, and South Korea’s Kospi edged higher by 0.65%. In India, both the Nifty 50 and the Sensex rose by 0.13% and 0.061%, respectively.