.png){kind=logo}
The FTSE 100 opened modest 6 points lower at 10,861.34 amid sharp fall in oil prices weighed on energy heavyweights, offsetting broader relief at Washington’s decision to pursue talks with Tehran. Meanwhile, Brent crude futures fell 4.66% to $83.83 per barrel. US West Texas Intermediate (WTI) declined 5.78% to $79.78 per barrel.
Sterling rose to $1.3473 on Monday from $1.32863 in the previous session. Against the euro, it fell to €1.1681 from €1.1702.
On the upside, Persimmon climbed 3.88% to 1,150p. Melrose Industries advanced 3.85% to 471.80p, while Rolls-Royce Holdings gained 3.56% to 1,520p. Barratt Redrow rose 3.14% to 302.50p, Kingfisher added 3.11% to 318.20p, and Pershing Square Holdings increased 3.05% to 3,924p.
On the downside, AstraZeneca slumped 6.44% to 11,818p. IG Group Holdings fell 2.74% to 1,420p, while British American Tobacco declined 1.95% to 4,481p. Coca-Cola HBC slipped 1.68% to 4,926p, Imperial Brands eased 1.42% to 2,785p, and Shell edged 1.09% lower to 3,346.50p.
Shipbroker Clarkson posted strong interim profits and says it expects full-year results to come in "materially ahead" of market forecasts after disruption in the Strait of Hormuz helped the shipping services group deliver record first-half profits.
Underlying pre-tax profit jumped 56% to £61.5 million in the first six months of 2026, on revenue up 39% to £413.5 million.
AstraZeneca is in talks with Bristol Myers Squibb over a potential merger to create the world's fourth-largest drugmaker by market value, says the Financial Times.
The group is worth £264.9 billion, or about $264 billion, and BMS roughly $133 billion, putting the combined valuation close to $400 billion.
The deal structure is unclear but would probably involve cash and shares. There are some obstacles, with both companies having large cancer-drug portfolios, including directly competing lung cancer treatments, while any deal is likely to face intense antitrust and political scrutiny on both sides of the pond.
Discussions have taken place in recent months and could produce an agreement soon, although the FT cautions that they could be delayed or collapse.
Easyjet has left the door open for another bid from asset manager Castlelake after it was usurped by investment giant Apollo last month.
The budget airline said on Monday that it was still minded to accept the deal with Apollo, which valued its stock at £7.15 per share, but would extend Castlelake’s deadline to bring it in line with Apollo’s.
That now means both firms will have to make a firm offer for the airline or announce they intend to walk away by no later than 5 pm on 7 August.
Castlelake’s original deadline was today. Easyjet said it is not clear whether any firm offer will be made. The carrier rejected multiple offers from Castlelake before agreeing to a sweetened bid that valued it at around £5.5 billion.
Also Read: Stock Market Update: Nifty 50 Opened 0.8% Higher, Sensex Started 788.7 Points Up
In Asia on Monday, Tokyo's Nikkei 225 fell 0.94% to 63,754.9, while China’s Shanghai Composite dipped 0.59%. Hong Kong’s Hang Seng advanced 0.34%, and South Korea’s Kospi edged lower by
5.12%. In India, both the Nifty 50 and the Sensex rose by 0.81% and 0.79%, respectively.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
