The FTSE 100 rose 0.26% on Monday as traders weighed Ukraine diplomacy, Iran’s mourning for its late supreme leader, and a fresh OPEC+ output hike. Continental peers were mixed, with France’s CAC 40 up and Germany’s DAX flat.
British stocks edged higher on Monday as the FTSE 100 climbed 0.26% by 03:15 ET, with traders balancing diplomatic moves over Ukraine, the funeral of Iran’s late supreme leader, and a fresh OPEC+ supply increase against a busy UK data calendar. At the open the index had picked up 43 points, or 0.41%, led by gains in EasyJet, WPP and Relx.
Across the Channel the picture was mixed. Germany’s DAX slipped 0.02% while France’s CAC 40 rose 0.30%, and the pound eased 0.11% against the dollar to $1.3338.
Ukraine talks and Iran mourning frame the mood
The gains came as Russian President Vladimir Putin and U.S. President Donald Trump spoke by phone for nearly 90 minutes on Sunday, their fourth call this year, according to Russia’s foreign ministry. Ukrainian President Volodymyr Zelensky said he had a good call with Trump on Saturday, and both exchanges came ahead of a NATO summit opening Tuesday in Turkey.
Meanwhile, Iran began a 12-hour funeral procession through Tehran on Monday for slain Supreme Leader Ayatollah Ali Khamenei, the third day of ceremonies. Streets and airspace stayed shut for the mourning period, due to end Thursday with his burial in Mashhad.
OPEC+ hike weighs on crude
On the supply side, seven OPEC+ countries agreed to raise combined production by 188,000 barrels per day from August, the fifth straight monthly increase. Brent crude for September delivery slipped 0.42% to $71.82 a barrel, while WTI for August was down 0.32% at $68.47.
Corporate news gave the London market its own thread. EasyJet agreed to a £5.5 billion takeover by U.S. investment firm Castlelake at £6.90 per share, and ITV agreed to sell its media and entertainment division to Sky for £1.6 billion.
Sources: Investing.com, TradingView (snippet-based)
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