FTSE 100 Live: Index Opened 108 points Lower at 10,673 as Oil Prices Fall Below USD 100

The FTSE 100 opened 108.72 points lower at 10,673.94 as investors assessed progress in US-Iran peace talks, while concerns over the artificial intelligence (AI) sector remained in focus following reports of an investigation into NVIDIA’s chief executive.  Brent crude futures fell 1.96% to USD 96.39 per barrel. US West Texas Intermediate (WTI) declined 1.33% to USD 89.62 per barrel. 

Sterling traded at USD 1.3385 early Monday, higher than USD 1.3362 at the London equities close on Friday. Against the euro, sterling fell to EUR 1.1984 from EUR 1.1989 a day prior.

Gainers and Losers

On the upside, Auto Trader Group gained 1.37% to 563.00p, while Anglo American advanced 1.19% to 3,745.00p. InterContinental Hotels Group rose 0.25% to USD 178.45, and Smith & Nephew increased 0.13% to 1,162.50p. NatWest Group climbed 0.10% to 588.00p, while Pearson edged up 0.08% to 1,296.00p.

On the downside, Polar Capital Technology Trust declined 1.37% to 539.00p, while Scottish Mortgage Investment Trust fell 1.33% to 1,450.50p. Barratt Redrow slipped 1.32% to 328.30p, and Airtel Africa dropped 1.08% to 274.60p. SSE decreased 0.87% to 2,626.00p, while Ithaca Energy lost 0.81% to 246.00p.

NVIDIA Launched Investigation into Jensen Huang

NVIDIA eportedly launched an investigation into its chief executive, Jensen Huang, following reports of his relationship with a woman suspected by US intelligence officials of gathering information for China. 

The AI chip giant’s board said it would examine whether the relationship had compromised company secrets or US national security. The investigation follows reports that Huang had a relationship with Alice Huang, a former executive at Singapore-based data center firm Megaspeed. 

In a message on Sunday, Huang admitted, 'I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did.'

Kainos Profit Declined 

Kainos reported a 17% drop in half-year profit despite growing demand for its tech services. The London-listed company, which helps organizations modernize their digital systems, reported a pre-tax profit of GBP 28.4 million, down from GBP 34.2 million last year, even as revenue rose 7% to GBP 196.1 million. 

The fall was driven by higher staffing costs, increased national insurance contributions and investment in its partnership with US software giant Workday. 

Chief executive Brendan Mooney said the company was positioned for 'accelerated growth in the second half', with all three divisions expected to increase revenue.

Global Market View

In US, S&P 500 futures gained 0.42%, while the Nasdaq 100 futures added 0.18%. Futures tied to the Dow Jones Industrial Average added 375 points, or 0.73%.

In Asia, Tokyo's Nikkei 225 rose 2.33% to 58,775.5, while China’s Shanghai Composite edged up by 0.32%. Hong Kong’s Hang Seng declined 0.12%, and South Korea’s Kospi dipped 0.81%. In India, both the Nifty 50 and the Sensex declined by 0.02% and 0.56%, respectively.

Also Read: NVIDIA Probes Jensen Huang’s Alleged Links to Suspected Chinese Spy