The FTSE 100 traded flat to slightly lower on Monday as investors monitored developments in the Middle East and weighed conflicting signals from the US and Iran on the possible reopening of the Strait of Hormuz. Trading was muted, with strength in technology stocks offset by weakness in major defensive names. BAT, Unilever and Diageo all declined, dragging on the index, while a modest rise in oil prices lent some support to energy-related shares.
Among individual movers, Plus500 was a notable gainer after its latest trading update reported first-half growth driven by higher trading income. By contrast, Pharos Energy was among the session’s worst performers after confirming it would not raise its bid for the oil and gas group. Vistry also fell following reports that its insurer is cutting coverage for the housebuilder’s suppliers.
