14th Sep 2026 12:19
(Alliance News) - Stock prices in London moved solidly higher, but European peers struggled and tech equities in New York are to tumble on calls to temper artificial intelligence splurges.
A lofty oil price also provided an unfavourable backdrop for equities largely across the board, stoking inflation worries further.
The FTSE 100 index traded up 81.95 points, 0.8%, at 10,732.39. The FTSE 250, however, was down 67.16 points, 0.3%, at 23,908.57, and the AIM all-share was down 4.71 points, 0.6%, at 786.16.
The Cboe UK 100 was up 0.8% at 1,067.35, the Cboe UK 250 was flat at 20,736.00, and the Cboe small companies was up 0.6% at 18,661.14.
The CAC 40 in Paris was down 0.6%, while the DAX 40 in Frankfurt was down 0.4%.
Against the dollar, the pound traded at USD1.3485 early Monday afternoon, down from USD1.3523 at the London equities close on Friday, while against the euro, it rose to EUR1.1679 from EUR1.1648.
The euro declined to USD1.1541 early Monday from USD1.1605 on Friday. Against the yen, the buck rose to JPY154.62 from JPY153.58.
The yield on the US 10-year Treasury widened to 4.96% on Monday from 4.93% at the time of the closing bell on the London Stock Exchange on Friday. The 30-year widened to 5.34% from 5.32%.
In New York, equities are called to open lower with artificial intelligence concerns hitting the tech heavy Nasdaq. The Dow Jones Industrial Average is called down 0.2%, the S&P 500 down 0.7% and the Nasdaq Composite down 1.6%.
"AI leaders call for slowing the pace of development, oil has crossed USD100, [US Treasuries] are nearing 5%, and equity seasonals are poor. We think it's time for caution; a near-term pullback in risk assets is likely," analysts at Barclays commented.
Stocks exposed to AI were on the decline, chipmaker Nvidia among them, sitting 2.8% in pre-market trade.
US President Donald Trump and key allies voiced opposition Sunday to drastically curbing the development of artificial intelligence, despite calls in recent days from leading industry figures to tap the brakes.
The rapid development of AI and the risks that the technology poses to humanity have exploded into the national conversation just weeks before midterm elections, in which technology has become a major flashpoint in campaigning.
During a visit to Ireland, Trump said he believed there were "a lot of negative forces...bringing up things that won't happen."
SoftBank Group tumbled 11% in Tokyo on the worries of an AI spending slowdown. Chipmaker ASML, Europe's largest listed company, was down 5.6% in Amsterdam.
But rising were stocks that were once deemed to be casualties in a world where AI is at the forefront. In London, Experian, Relx and Sage rose 4.1%, 5.6% and 5.9%. Capgemini was the best CAC 40 performer in Paris, adding 6.1%.
Gold declined to USD4,291.99 an ounce midday Monday, from USD4,375.02 late Friday afternoon. A barrel of Brent fetched USD107.23, surging from USD104.73.
AJ Bell analyst Russ Mould commented: "It adds to existing inflation fears which were stoked last week by the latest US consumer price index data remaining at elevated levels.
"Markets now expect an 87% chance of a US rate hike this week and a 49% probability of another one in December."
The Federal Reserve decision is on Wednesday, before the Bank of England on Thursday.
Ebury analyst Enrique Díaz-Alvarez commented: "This week is unusually packed. The monthly labour market data on Tuesday will be followed by the inflation report for August on Wednesday. Both data points will be available to Monetary Policy Committee members prior to their rate decision on Thursday, but neither should change the decision to keep rates unchanged."
Back in London, GlobalData warned increased investment to boost sluggish revenue growth would result in full-year adjusted earnings missing analyst expectations. Shares slumped 20%, making it the worst FTSE 250 performer.
The data analytics and consulting company now expects full-year underlying revenue growth to be "more muted" than expected, and towards the lower end of the range of analyst expectations of GBP325.3 million to GBP335.7 million.
The reduction in the revenue outlook, together with "targeted" investments through the second half will mean margins are "more subdued" than market expectations, the firm said, and in line with the first half adjusted Ebitda margin of 34%, which was up from 33% the year prior.
As a result, the firm expects adjusted earnings before interest, tax, depreciation and amortisation to be below market expectations of GBP121.0 million to GBP126.7 million.
Shares in Blencowe Resources fell 27%.
The developer of the Orom-Cross graphite project in Uganda announced the immediate resignation of Mike Ralston as chief executive officer.
Ralston will continue to support the firm on a full-time consultancy basis until his planned retirement at the end of 2026.
The company said: "In the interim, operational activities and key development workstreams will continue under the existing senior management team, led by Chief Operating Officer Iain Wearing, who already has primary responsibility for the day-to-day advancement of the Orom-Cross graphite project."
On AIM, Tribal Group surged 21%. Late Friday, the educational software and services provider agreed the GBP189.3 million sale of its Student Information Solutions division and Etio business to Thames Bidco Ltd, a newly formed company controlled by funds and accounts managed or advised by Main Capital Partners, a specialist software investor.
The businesses to be sold comprise all of Tribal's operating subsidiaries, meaning it will be a cash shell following the deal. However, it will not pursue a reverse takeover nor move to become an investing firm, instead it eyes a cancellation of its listing.
"Following completion, it is the company's intention to proceed swiftly to the cancellation and the members' voluntary liquidation so it can distribute the net proceeds to shareholders as soon as reasonably practicable in the most tax efficient manner," Tribal said.
By Eric Cunha, Alliance News news editor
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