16th Mar 2026 08:59
(Alliance News) - Stock prices in London opened mixed on Monday, as the FTSE 100 was helped by oil majors as the price of Brent climbed, while airline stocks weighed amid disruption from the ongoing conflict in the Middle East.
The FTSE 100 index opened up 6.25 points, 0.1%, at 10,267.40. The FTSE 250 was down 22.93 points, 0.1%, at 22,048.17, and the AIM all-share was up 0.24 points at 759.62.
The Cboe UK 100 was up 0.2% at 1,020.78, the Cboe UK 250 was down 0.2% at 19,286.06, and the Cboe small companies was up 0.2% at 17,633.77.
In European equities on Monday, the CAC 40 in Paris was down 0.2%, while the DAX 40 in Frankfurt was 0.1% lower.
Sterling was at USD1.3247 on Monday morning, up from USD1.3233 at the London equities close on Friday. The euro was slightly higher at USD1.1440 from USD1.1437. Against the yen, the dollar was lower at JPY159.33 versus JPY159.58.
Investors were closely watching developments in the Middle East on Monday, at the start of a busy week for central back decisions which have been affected by the ongoing conflict.
US President Donald Trump said Nato faces a "very bad" future if US allies fail to help open the Strait of Hormuz.
"If there's no response or if it's a negative response I think it will be very bad for the future of Nato," said Trump.
Trump also said an upcoming summit in Beijing with his Chinese counterpart Xi Jinping could be delayed as he presses for China's help to open the strait.
"We'd like to know before" the summit, Trump said, noting that China as well as many European countries rely more than the US on oil flowing from the Gulf.
Brent oil was trading higher at USD106.09 a barrel on Monday morning from USD101.57 on Friday.
Oil majors BP and Shell were up 1.7% and 1.4% respectively.
Airline shares were down on Monday as the conflict continued to develop. On the FTSE 100, IAG was down 1.9% while easyJet lost 0.9%.
Wizz Air fell the most on the FTSE 250 and was down 3.7%.
"Overall, the bombing of Kharg Island – and the continued attacks between the parties – suggests the conflict is not close to an end," said Swissquote analyst Ipek Ozkardeskaya.
"Still, there is some relief in Asia this morning on news that two tankers carrying liquefied petroleum gas to India were able to sail through the strait. The US has asked countries around the world to send ships to the region to help keep shipping routes open. The response, however, has been mixed – it is indeed a very politically and geopolitically sensitive call to make."
Ozkardeskaya said all central bank decisions this week "will be torn between the upcoming spike in inflation due to rising oil and gas prices and the threat of slowing economies and rising unemployment".
Rate holds are expected in the US, Japan, UK, eurozone, Canada and Switzerland.
In Asia on Monday, the Nikkei 225 in Tokyo was down 0.1%. In China, the Shanghai Composite was 0.3% lower, while the Hang Seng Index in Hong Kong gained 1.5%. The S&P/ASX 200 in Sydney was 0.4% lower.
In the US on Friday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.3%, the S&P 500 0.6% lower and the Nasdaq Composite lost 0.9%.
The yield on the US 10-year Treasury slimmed to 4.27% on Monday morning from 4.29% at Friday's close. The yield on the US 30-year Treasury was unchanged at 4.91%.
Back in London, Segro shares rose 1.4% after the firm said it has signed an agreement to develop a powered shell data centre for an existing customer on the Slough, England trading estate.
The London-based property developer said the building will provide 30,000 square metres of data centre space across three floors, with planning permission in place.
The agreement includes the provision of 50 megavolt-amperes.
Separately, Segro said it has received planning committee approval for its first fully fitted data centre in Park Royal, west London.
Standard Life shares were down 2.6%, the most on the FTSE 100, as it raised its dividend and reported a narrower loss. The firm said it is on track to deliver its 2026 financial targets.
The insurance, savings and retirement products company said the pretax loss attributable to owners slimmed to GBP432 million in 2025 from GBP1.45 billion in 2024.
Total cash generation fell 3.8% to GBP1.71 billion from GBP1.78 billion, while operating cash generation climbed 5.1% to GBP1.47 billion from GBP1.40 billion.
The firm raised its final dividend by 2.6% to 28.05 pence per share from 27.35p, giving a total dividend for the year of 55.40p, up 2.6% from 54.00p.
Adjusted operating profit jumped 15% to GBP945 million in 2025 from GBP825 million.
"Our results demonstrate strong progress delivering on our strategic priorities. Further profitable growth and a strengthened Solvency balance sheet have supported increased shareholder returns and greater financial flexibility for the future, underpinned by the significant and growing levels of excess cash our business generates," said Chief Executive Officer Andy Briggs.
On the FTSE 250, shares in Savills rose 3.8%. Peel Hunt raised its rating on the stock to 'buy' from 'add', with a price target of 1,400p, up from 1,200p.
Among small caps, shares in CAB Payments climbed 11% after StoneX made a proposal to buy the company.
StoneX said it has submitted an all-cash takeover proposal for CAB Payments at 95p per share, which is a 32% premium to the undistrubed share price of 72p, before an earlier bid from the Helios consortium.
It said the proposal is 11% higher than the Helios consortium's firm offer of 85p from earlier this month.
"StoneX believes that its proposal would provide a compelling opportunity for CAB Payments' shareholders to monetise their holdings in CAB Payments for cash at an attractive valuation which is also at a significant premium to its recent and undisturbed share price and the Helios consortium's firm offer," it said.
StoneX said it is confident it would be the "best long-term owner and custodian of CAB Payments" and added that it looks forward to engaging with the firm and the Helios consortium.
Gold was lower at USD4,988.80 an ounce early on Monday from USD5,043.40 late Friday.
Still to come on Monday's economic calendar is US industrial production data and a consumer price index reading for Canada.
By Michael Hennessey, Alliance News reporter
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