The FTSE 100 Index Opens 0.11% Lower

The FTSE 100 traded flat to slightly lower on Monday as investors awaited further developments in the Middle East and assessed mixed signals from the US and Iran over the prospects of reopening the Strait of Hormuz. Market activity was subdued, with gains in technology stocks offset by weakness among major defensive names. BAT, Unilever and Diageo all declined, weighing on the index, while a modest rise in oil prices provided some support to energy-related stocks. More broadly, Plus500 was among the stronger performers after its latest trading update showed first-half growth driven by higher trading income. Pharos Energy was one of the biggest fallers after confirming it would not increase its offer for the oil and gas company, while Vistry declined following reports that its insurer was reducing coverage for the housebuilder’s suppliers.

The FTSE 100 Index is losing 12 points. Losses were led by Coca-Cola (-2.74%), Legal & General (-1.58%) and Admiral (-1.44%). Offsetting the fall, top gainers were Glencore (2.08%), Fresnillo (1.59%) and Antofagasta (1.37%).

The FTSE 100 Index gained 42 points or 0.39 percent on Friday to close at 10910 points. Gains were led by Fresnillo (5.33%), Endeavour (4.06%) and Diageo (3.23%). Biggest losers were Burberry (-1.30%), Glencore (-1.14%) and Shell (-1.13%).