30th Mar 2026 06:57
(Alliance News) - Stocks in London are set to open lower on Monday, despite US President Donald Trump's claim that "I do see a deal in Iran. Could be soon."
Trump has also told the Financial Times that he would like to take control of Iran's oil, something which would likely require US forces to take Kharg Island in the Gulf.
Iranian politicians, meanwhile, have accused the US of plotting a ground attack and said the government plans to reshape governance of the Strait of Hormuz, which sources have said could include a toll system.
Ministers from the G7 will hold talks on Monday to unpack the economic consequences of the war in the Middle East, the French government said, as oil and gas prices continue to soar.
IG says futures indicate the FTSE 100 to open down 34.4 points, 0.4%, on Monday. The index of London large-caps closed down 4.82 points on Friday.
Sterling was quoted at USD1.3274 early Monday, lower than USD1.3334 at the London equities close on Friday. Against the euro, sterling fell to EUR1.1528 from EUR1.1563 a day prior.
The euro traded at USD1.1515 early Monday, higher than USD1.1506 late Friday. Against the yen, the dollar was quoted lower at JPY159.69 versus JPY159.72.
In UK news, UK government ministers are seeking advice on potentially triggering the break clause of Palantir's contract with the National Health Service, the Financial Times reported.
The software company in 2023 bagged a seven-year data management contract worth GBP330 million. However, Palantir's involvement in the US defence sector, and Chief Executive Alex Karp's political leanings, have become the subject of growing controversy, and NHS staff have flagged threats to privacy inherent in Palantir having access to vast swathes of patient data and personal information.
In the US on Friday, Wall Street ended lower, with the Dow Jones Industrial Average down 1.7%, the S&P 500 down 1.7% and the Nasdaq Composite down 2.2%.
In Asia on Monday, the Nikkei 225 index in Tokyo was down 3.2%. In China, the Shanghai Composite was marginally lower, while the Hang Seng index in Hong Kong was down 1.0%. The S&P/ASX 200 in Sydney closed down 0.7%.
Gold was quoted at USD4,519.21 an ounce early Monday, higher than USD4,493.36 on Friday.
Brent oil was trading at USD107.80 a barrel early Monday, higher than USD107.34 late Friday.
In Monday's corporate calendar, RTW Biotech and Fermi release full-year results.
In the economic calendar on Monday, the eurozone has economic and industrial sentiment indices, and the UK has mortgage approvals at 0930 BST.
By Emma Curzon, Alliance News reporter
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