6th Oct 2025 09:08
(Alliance News) - Stock prices in London opened mostly lower on Monday, while in the Middle East ceasefire talks are due to start between Israel and Hamas.
The FTSE 100 index opened down 20.87 points, 0.2%, at 9,470.38. The FTSE 250 was down 70.16 points, 0.3%, at 22,127.46, and the AIM All-Share was up 1.01 points, 0.1%, at 797.53.
The Cboe UK 100 was up marginally at 948.83, the Cboe UK 250 was down 0.1% at 19,413.35, and the Cboe Small Companies was up 0.4% at 17,983.62.
On the FTSE 100, Mondi dropped 14%.
The Weybridge, England-based packaging firm saw its underlying earnings before interest, taxes, depreciation and amortisation drop 19% to EUR223 million for the third quarter of 2025 from EUR274 million in the second quarter, although they were flat on-year.
Mondi, which is undergoing a reorganisation, said the trading environment in the third quarter remained "challenging" as volumes were hit by subdued demand, and paper selling prices declined.
For the remainder of this year, Mondi expects challenging trading conditions to persist, as demand-side confidence remains fragile, key markets remain in oversupply and current selling prices are lower than third-quarter average selling prices.
AstraZeneca rose 1.0%.
The Cambridge, England-based pharmaceutical company said results from the phase 3 Tropion-Breast02 trial showed Datroway, datopotamab deruxtecan, delivered a statistically significant and clinically meaningful improvement in both overall survival and progression-free survival compared with chemotherapy in patients with metastatic triple-negative breast cancer who were not eligible for immunotherapy.
Datroway is a Trop2-directed antibody-drug conjugate jointly developed and commercialised by AstraZeneca and Japanese pharmaceutical firm Daiichi Sankyo, up 4.8% in Tokyo.
On the FTSE 250, Sirius Real Estate lost 2.2%.
The London and Johannesburg-listed property investor said on Monday it had achieved a 15% year-on-year increase in rent roll for the six months that ended September 30, partly driven by its acquisitions. It spent nearly EUR300 million on acquisitions across Germany and the UK during the current calendar year.
The company said it is now transitioning to a phase of intense asset management of its new assets, following "highly acquisitive growth" in the UK. Sirius said it remains on track to deliver full-year financial results that are in line with expectations.
Shawbrook announced that it is considering an initial public offering.
Shawbrook is a commercial and retail bank, providing credit facilities to businesses and mortgages to professional landlords and property investors. It is considering applying for admission to the Main Market of the London Stock Exchange.
Shawbrook said it aims to continue its trajectory of high-growth and high-returns, and intends to almost double its loan book to approximately GBP30 billion by the end of 2030. The company grew its loan book to GBP17.0 billion as at June 30 this year from GBP1.4 billion at the end of 2013.
In European equities on Monday the DAX 40 in Frankfurt was down 0.2%.
The CAC 40 in Paris was down 1.5% after France's President Emmanuel Macron accepted Prime Minister Sebastien Lecornu's resignation. Before the news broke, it had been down 0.7%.
Macron named Lecornu last month to the post, but the largely unchanged cabinet lineup he unveiled late Sunday was met with fierce criticism across the political spectrum.
The pound was quoted lower at USD1.3451 early on Monday in London, compared to USD1.3469 at the equities close on Friday. The euro stood lower at USD1.1663, against USD1.1741, and down from 1.1707 before French PM Lecornu's resignation had been announced. Against the yen, the dollar was trading higher at JPY150.08 compared to JPY147.43.
In Asia on Monday, the Nikkei 225 index in Tokyo was up 4.8%.
"The week kicked off on a positive note in Japan after the ruling [Liberal Democratic Party] chose Sanae Takaichi as its next leader - she is now set to become the country's next prime minister and is known for her preference for easy fiscal and monetary policies," Swissquote's Ipek Ozkardeskaya said.
"On the currency front, the Japanese yen slipped on expectations of a softer Bank of Japan (BoJ) path - and possibly fewer rate hikes," Ozkardeskaya continued. "The USDJPY soared past the 150 mark.
"In equities, the Nikkei jumped more than 4% to a fresh all-time high on optimism that looser fiscal and monetary policies, along with a weaker yen, will continue to support Japanese equities. Defence stocks, in particular, rallied strongly on speculation that the new government could increase military spending beyond previous expectations. Japan Steel Works, for instance, jumped [15%]."
In China, the Shanghai Composite was up 0.5%, while the Hang Seng index in Hong Kong was down 0.7%. The S&P/ASX 200 in Sydney closed down 0.1%.
In the US on Friday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.5%, the S&P 500 up 0.44 points and the Nasdaq Composite down 0.3%.
The yield on the US 10-year Treasury was quoted at 4.16%, widening from 4.11%. The yield on the US 30-year Treasury was quoted at 4.77%, widening from 4.69%.
The Trump administration branded Chicago a "war zone" Sunday as a justification for deploying soldiers there, while a judge blocked the White House from sending troops to Portland, another Democrat-run city.
In the newest flashpoint, Trump late Saturday authorised deployment of 300 National Guard soldiers to Chicago, the third-largest city in the US, despite the opposition of elected leaders, including the mayor and state Governor Jay Robert Pritzker.
Brent oil was quoted higher at USD65.43 a barrel early in London on Monday from USD64.61 late Friday.
Delegations from Hamas, Israel and the US are due to convene in Egypt for talks on Monday, with President Donald Trump urging negotiators to "MOVE FAST".
Both Hamas and Israel have responded positively to Trump's proposal for an end to the fighting and the release of captives in Gaza in exchange for Palestinians held in Israeli jails.
Foreign ministers from several countries, including Egypt, said the talks were a "real opportunity" to achieve a sustainable ceasefire, while Israeli Prime Minister Benjamin Netanyahu expressed hope that the hostages could be released within days.
Gold was quoted higher at US3,931.76 an ounce against USD3,885.67.
Still to come on Monday's economic calendar is a construction purchasing managers' index reading from the UK. The eurozone also has retail sales.
By Emma Curzon, Alliance News reporter
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