20th Jul 2026 06:57
(Alliance News) - Stocks in London are set to open lower on Monday, ahead of incoming UK prime minister Andy Burnham entering 10 Downing Street, and following further fighting in the Middle East.
The US conducted a new round of airstrikes early on Monday targeting Iran after announcing the death of another American service member.
Iran responded by launching an attack targeting Bahrain, the home of the US Navy's fifth fleet.
Also, China's central bank left its key interest rate unchanged.
IG says futures indicate the FTSE 100 to open down 26.9 points, 0.3%, on Monday. The index of London large-caps closed up 28.13 points, 0.3%, at 10,600.37 on Friday.
Sterling was quoted at USD1.3466 early Monday, higher than USD1.3453 at the London equities close on Friday. Against the euro, sterling rose to EUR1.1766 from EUR1.1753 a day prior.
Andy Burnham will enter 10 Downing Street promising to give people "breathing room" against the rising cost of living.
In his first speech as UK prime minister, Burnham will urge the country to be honest about the challenges it faces and call for "reflection and resolution".
He will also say he is "acutely conscious" that the UK has had seven prime ministers in the last decade, stressing the need for more stable and responsible politics and pledging to restore faith in government.
Meanwhile, Ryanair announced a 34% on-year fall in post-tax profit in the first financial quarter to EUR538 million from EUR820 million, despite passenger numbers rising to 61.3 million from 57.9 million. Operating costs increased to EUR3.81 billion from EUR3.42 billion.
The euro traded at USD1.1440 early Monday, lower than USD1.1441 late Friday. Against the yen, the dollar was quoted lower at JPY162.35 versus JPY162.37.
In the US on Friday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.8%, the S&P 500 down 1.0% and the Nasdaq Composite down 1.4%.
In Asia on Monday, the Shanghai Composite was down 0.5%, while the Hang Seng index in Hong Kong was up 2.1%. The S&P/ASX 200 in Sydney was up 0.1%.
The Nikkei 225 index in Tokyo was closed for Marine Day.
The People's Bank of China on Monday left its loan prime rates unchanged.
The Chinese central bank maintained its one-year loan prime rate at 3.0%, in line with the FXStreet-cited consensus, while its five-year loan prime rate remained at 3.5%.
Gold was quoted at USD4,009.35 an ounce early Monday, lower than USD4,014.29 on Friday.
Brent oil was trading at USD90.41 a barrel early Monday, higher than USD86.53 late Friday.
In Monday's corporate calendar, Big Yellow Group has a trading update.
In the economic calendar on Monday, Germany has producer inflation data at 0600 GMT, later followed by eurozone construction figures.
By Emma Curzon, Alliance News reporter
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