FTSE 100 opens softer as oil prices rise
The FTSE 100 started the new trading week on a softer footing, opening at 10,540 points. Investors remain focused on the escalating conflict in the Middle East, where military tensions between the United States and Iran continue to intensify.
As a result, oil prices moved higher at the start of the week, with Brent crude extending its recent gains. The rise in energy prices once again supported UK-listed oil majors, helping to underpin the broader market.
Company news moves into focus
Corporate earnings are also attracting attention today, with investors closely monitoring the latest results from Ryanair and Big Yellow Group.
Meanwhile, shares in Segro came under pressure after the company rejected a takeover approach from Prologis. That has kept real estate and logistics assets in focus at a time when investors are already reassessing valuations across rate-sensitive sectors.
Burnham's energy stance is watched
Political developments remain another key focus. Investors continue to watch Andy Burnham, the UK's designated incoming Prime Minister, particularly his stance on expanding oil production in the North Sea.
The debate is expected to centre less on issuing new exploration licences and more on accelerating investment in existing production projects, a topic that could have important implications for the UK's energy sector.
