9th Nov 2026 08:41
(Alliance News) - Stock prices in London opened higher on Monday, with the FTSE 100 supported by gains for mining stocks, while investors assessed fresh trade developments between the US and China and signs of progress in diplomatic efforts in the Middle East.
The FTSE 100 index opened up 35.84 points, 0.3%, at 10,709.78. The FTSE 250 was up 36.89 points, 0.2%, at 24,541.53, and the AIM All-Share was up 3.98 points, 0.5%, at 757.71.
The Cboe UK 100 was up 0.4% at 1,063.45, the Cboe UK 250 was up 0.2% at 21,730.03, and the Cboe Small Companies was down 0.1% at 18,600.09.
In European equities on Monday, the CAC 40 in Paris was down 0.2%, while the DAX 40 in Frankfurt edged up 0.1%.
German exports increased in September, although the country's trade surplus narrowed as imports grew at a faster pace, according to figures released by the Federal Statistical Office.
Exports rose 2.0% month-on-month to EUR141.1 billion in September, recovering from a 0.4% decline in August, Destatis said. Imports increased 4.2% to EUR125.5 billion, accelerating from a 0.6% rise in August.
The seasonally and calendar-adjusted trade surplus narrowed to EUR15.6 billion in September from EUR17.9 billion in August, although it remained slightly above the EUR15.5 billion recorded a year earlier.
On an annual basis, exports increased 7.7%, while imports rose 8.7%.
Exports to European Union countries grew 3.5% month-on-month to EUR80.8 billion, while imports from the bloc increased 4.9% to EUR62.9 billion.
The US remained Germany's largest export destination, although shipments declined 0.5% month-on-month to EUR13.4 billion. Exports to the UK fell 4.7% to EUR7.3 billion, while exports to China decreased 5.2% to EUR5.5 billion.
China remained Germany's largest source of imports, with shipments rising 1.6% to EUR17.3 billion. Imports from the US increased 6.2% to EUR8.8 billion, while those from the UK edged up 1.0% to EUR3.3 billion.
Elsewhere in Europe, Credit Agricole proposed merging its Italian subsidiary with Banco BPM in a deal that would create Italy's third-largest bank and deepen the French lender's involvement in the consolidation of Italy's banking sector.
The proposal values Banco BPM at a 20% premium and includes an extraordinary dividend of EUR1 billion.
Under the proposed transaction, Credit Agricole's combined stake in Banco BPM would rise to around 45%, with the French lender indicating that the tie-up could be completed in the second half of 2027.
Shares in Banco BPM jumped 9.9% in Milan, while Credit Agricole fell 0.8% in Paris.
The pound was quoted at USD1.3409 early Monday, higher than USD1.3362 at the London equities close on Friday. Against the euro, sterling was unchanged at EUR1.1989.
The euro rose to USD1.1182 from USD1.1149 late Friday. Against the yen, the dollar fell to JPY157.88 from JPY158.34.
In the FTSE 100, mining stocks were among the leading gainers as gold prices advanced.
Endeavour Mining climbed 3.1%, Fresnillo gained 2.8%, Antofagasta rose 2.6%, Anglo American advanced 2.2%, and Glencore added 1.7%.
Gold was quoted at USD4,091.00 an ounce early Monday, higher than USD4,058.03 on Friday.
International Consolidated Airlines Group extended Friday's gains, rising 2.0% after the British Airways owner said last week that it remained on track to meet full-year market expectations despite a third-quarter profit shortfall.
The airline group highlighted a positive demand outlook, although operating profit fell 16% to EUR1.73 billion in the three months ended September 30 from EUR2.05 billion a year earlier, below company-compiled consensus of EUR1.81 billion.
In the FTSE 250, Meridian Mining rose 3.5% after announcing that its Cabacal copper, gold and silver project in Mato Grosso, Brazil, had entered the pre-construction phase as it progresses towards a final investment decision.
At the other end of the mid-cap index, Kainos Group fell 7.0% despite reporting higher half-year profit and revenue, supported by strong bookings and an expanding contracted backlog.
The IT services provider said pretax profit rose 26% to GBP35.8 million in the six months ended September 30 from GBP28.4 million a year earlier, while revenue jumped 37% to GBP268.8 million from GBP196.1 million.
Adjusted pretax profit increased 30% to GBP41.7 million from GBP32.0 million, while diluted earnings per share rose to 23.1 pence from 16.7p.
Kainos raised its interim dividend by 6.0% to 10.4p per share from 9.8p.
Bookings grew 27% to GBP402.3 million from GBP317.0 million, while its contracted backlog increased 26% to GBP853.0 million from GBP679.3 million, supported by major multi-year contract wins.
In Asia on Monday, the Nikkei 225 index in Tokyo was up 2.3%. In China, the Shanghai Composite gained 0.3%, while the Hang Seng index in Hong Kong was down 0.1%. The S&P/ASX 200 in Sydney closed up 0.1%.
China said it would maintain its suspension of additional tariffs on US imports for another two months, extending a measure introduced as part of efforts to ease trade tensions between the world's two largest economies.
The Chinese Commerce Ministry said the additional 24% tariff would remain suspended, although a 10% tariff would continue to apply.
The 24% levy was first introduced in April 2025 on certain US imports but was paused shortly afterwards following several rounds of negotiations.
US President Donald Trump and Chinese President Xi Jinping reached a broader trade truce in Busan in October.
The two leaders could meet for a third time this year on the sidelines of next week's Asia-Pacific Economic Cooperation summit in Shenzhen, southern China.
Russian President Vladimir Putin has also announced plans to attend the summit, prompting speculation about a possible meeting involving all three leaders.
In the US on Friday, Wall Street ended mixed, with the Dow Jones Industrial Average falling 0.5%, while the S&P 500 gained 0.3% and the technology-heavy Nasdaq Composite advanced 1.1%.
The yield on the US 10-year Treasury was quoted at 4.85% early Monday, narrowing from 4.87% on Friday. The yield on the US 30-year Treasury narrowed to 5.25% from 5.26%.
Brent oil was trading at USD96.20 a barrel early Monday, lower than USD97.66 late Friday, as investors monitored diplomatic efforts to prevent renewed hostilities between Washington and Tehran.
Trump on Sunday played down the likelihood of further US military action against Iran, saying additional strikes were "highly unlikely" as long as negotiations continued to make progress.
The comments followed weeks of warnings from Trump that Washington could resume its military campaign against Tehran, amid US media reports suggesting hostilities could restart following last week's midterm elections.
"The answer is highly unlikely it's going to be necessary... I would if necessary, but we hit them really hard. I hit them so hard. You don't know how hard I hit them," Trump told CNN.
However, he warned that any decision to resume hostilities "depends on whether or not they sign a very strong agreement."
Meanwhile, foreign ministers from the Group of Seven nations are meeting in Paris for two days of talks focused on efforts to end Russia's war in Ukraine and prevent renewed US military action against Iran.
European powers are expected to press Washington to secure a fair peace settlement for Kyiv ahead of US-mediated talks involving Russia and Ukraine in Abu Dhabi on Tuesday and Wednesday.
Still to come on Monday's economic calendar, the US releases wholesale inventories and consumer inflation expectations data.
By Eva Castanedo, Alliance News senior economics reporter
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