6th Jul 2026 06:51
(Alliance News) - Stocks in London are set to open marginally lower on Monday, as investors monitor developments in Ukraine and the latest increase in Opec+ oil production ahead of a busy day for economic data.
IG says futures indicate the FTSE 100 to open 6.1 points lower, 0.1%, at 10,672.93 on Monday. The index of London large-caps closed 0.3% higher at 10,679.03 on Friday.
US President Donald Trump spoke with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky ahead of this week's Nato summit in Ankara, according to the Kremlin and Kyiv.
"The presidents naturally addressed the issue of a settlement in Ukraine, taking into account, in particular, Donald Trump's upcoming participation in the Nato summit in Turkey on July 7 and 8," Kremlin foreign policy aide Yuri Ushakov told Russia's RIA Novosti news agency.
He added that the two leaders also discussed Iran and the wider Middle East during the 85-minute call.
Meanwhile, Ukraine denied Moscow's claim that Russian forces had captured the strategic eastern city of Kostyantynivka.
A Ukrainian military spokesperson told AFP the city remained under Kyiv's control, while President Zelensky dismissed Russia's announcement as "a lie". The competing claims came after Moscow also accused Ukrainian drones of striking St Petersburg.
"The situation remains difficult," Ukrainian army spokesperson Andriy Kovalyov said, "but Kostyantynivka is under the control of the Ukrainian Defence Forces."
Sterling was quoted at USD1.3343 early Monday, lower than USD1.3351 at the London equities close on Friday. Against the euro, sterling fell to EUR1.1666 from EUR1.1672 a day prior.
In UK politics, Andy Burnham said he would not call a general election if he became prime minister, but would instead seek to persuade Labour to include electoral reform in its next manifesto.
The Makerfield MP, now widely regarded as a prime-minister-in-waiting, made the comments during an "ask me anything" session on Reddit on Friday evening.
Asked whether he would call an election, Burnham replied: "No. As I said in my speech on Monday, I'm going to work to the 2024 manifesto."
The euro traded at USD1.1432 early Monday, lower than USD1.1440 late Friday. Against the yen, the dollar was quoted at JPY161.95 versus JPY161.30.
In the US on Friday, financial markets were closed for the Independence Day holiday.
In Asia on Monday, the Nikkei 225 index in Tokyo was down 0.2%. In China, the Shanghai Composite was down 0.3%, while the Hang Seng index in Hong Kong was up 0.8%. The S&P/ASX 200 in Sydney was down 0.2%.
Gold was quoted at USD4,155.60 an ounce early Monday, lower than USD4,167.57 on Friday.
Brent oil was quoted at USD71.94 a barrel early Monday, higher than USD71.76 late Friday.
The modest rise came after seven Opec+ members agreed to raise oil production quotas again as Gulf countries continue to deal with the aftermath of the Middle East conflict.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman agreed to increase production by 188,000 barrels per day from August, according to a statement from the group.
Back in London, easyJet said it has reached an agreement in principle over a takeover by US private equity firm Castlelake after a revised proposal valued the airline at more than GBP5 billion, or USD6.7 billion.
The easyJet board said Castlelake's fifth proposal, worth GBP6.90 per share, was one it was "minded to recommend" to shareholders, provided a firm offer is made by the August 3 deadline.
Meanwhile, Next is preparing a bid to acquire retail brand Harvey Nichols, Sky News reported on Saturday.
The department store has been put up for sale by owner Dickson Concepts (International) Ltd, Sky News reported.
Next's pursuit of Harvey Nichols is at a "relatively early stage", the report said.
In Monday's corporate calendar, BTG Consulting reports full-year results.
In the economic calendar on Monday, UK new car sales and construction PMI data are due, while Bank of England Monetary Policy Committee member Catherine Mann is scheduled to speak.
Elsewhere, Germany releases factory orders and construction PMI data, France publishes construction PMI, and the eurozone reports construction PMI, retail sales, producer prices and retail sales.
In North America, the focus is on US composite PMI and ISM services PMI, alongside Canada's composite PMI and the Bank of Canada's business outlook survey.
By Eva Castanedo, Alliance News reporter
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