London stocks are set for a softer open on Monday as rising oil prices and stalled US-Iran talks weigh on sentiment.
Futures suggest the FTSE 100 will open around 9.9 points lower, down 0.1% at 10,369.18, after closing 0.8% lower at 10,379.08 on Friday.
Oil prices moved higher after negotiations between Washington and Tehran faltered, with Brent crude rising to $107.34 a barrel from $105.78 late last week.
Donald Trump said he cancelled plans to send a delegation to Pakistan for talks with Iran, citing dissatisfaction with Tehran’s position, although he noted a revised proposal had since been received.
Sterling strengthened to $1.3535 against the dollar and €1.1544 against the euro. The euro also edged higher to $1.1725, while the dollar slipped slightly against the yen to ¥159.35.
On Wall Street, Friday’s session ended mixed: the Dow Jones Industrial Average fell 0.2%, while the S&P 500 rose 0.8% and the Nasdaq Composite gained 1.6%.
In Asia, Japan’s Nikkei 225 climbed 1.7%, China’s Shanghai Composite rose 0.1%, while Hong Kong’s Hang Seng Index slipped 0.3%. Australia’s S&P/ASX 200 closed down 0.3%. Gold edged lower to $4,711.73 an ounce.
