FTSE 100 Live: Stocks to drop after falling oil prices weigh on BP and Shell
Welcome back to City AM’s FTSE 100 liveblog. The UK’s blue-chip index is set to fall on Monday morning, according to futures from investment platform IG. This would see the FTSE 100 extend the heavy losses it suffered on Friday, when the index closed 1.5 per cent lower. Falling oil prices pushed down BP and [...]
Welcome to the liveblog of the FTSE 100. The UK's blue-chip index is expected to decline on Monday, continuing its steep losses from Friday. Falling oil prices have affected BP and Shell stocks, with Airtel Africa experiencing a significant drop of over 11 percent after scaling back the floated price of its payments arm, Airtel Money.
Russ Mould, an investment director at AJ Bell, mentioned that the decline in oil has reduced concerns about inflation, which in turn has led to a decrease in government bond yields from their recent multi-year highs. Although this trend might require more substantial evidence of diplomatic progress, the market has managed to handle a week where the US Federal Reserve increased interest rates and the Bank of England showed caution about a UK rate hike.
Despite the decline in oil prices, Brent crude remains near its highest level since May, and Iran's recent threats may not ease the tensions. This week, investors will also have to deal with concerns about potential UK borrowing costs surging again after hitting record levels since 2007.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
