FTSE 100 starts the week mixed as defensive stocks and oil majors provide support
The FTSE 100 is trading around 10,820 as investors favour insurance, energy and telecoms stocks, while weaker UK housing data weighs on sentiment.
Chief Market Analyst
The FTSE 100 is showing a mixed performance at the start of the new trading week, currently trading at around 10,820 points. On Monday, investors are primarily focusing on defensive sectors, with insurance, energy and telecommunications stocks attracting buying interest. The broader UK market is also benefiting from demand for oil companies, with heavyweights BP and Shell providing support for the FTSE 100 at the start of the week.
Some disappointment, however, comes from weaker-than-expected UK housing data. The figures point to a continued decline in house prices, dashing hopes of an interim recovery. This has resulted in the first annual fall in house prices since 2023.
Meanwhile, the absence of trading impulses from the United States is also clearly evident in the UK market. With US markets closed, investors are showing little appetite to build new positions and are instead largely remaining on the sidelines.
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