FX.co ★ UK Stocks Edge Lower

On Monday, the FTSE pared its initial gains, hovering slightly below the flatline at approximately 9,130, as apprehension grew ahead of discussions involving EU leaders, Ukrainian President Zelensky, and US President Trump concerning the ongoing conflict in Ukraine. Zelensky, along with European leaders, is preparing for potentially challenging proposals from Donald Trump. Focus is also shifting towards monetary policy, particularly the Federal Reserve's Jackson Hole symposium commencing on Thursday. Prominent central bankers are set to deliver keynote addresses, with significant attention on Federal Reserve Chair Jerome Powell’s speech on Friday for insights into the Fed’s upcoming actions. On the corporate front, the energy and mining sectors experienced notable declines. Shares of Centrica, Ashtead Group, Glencore, and Rio Tinto fell by as much as 1.8%. Conversely, Babcock led the index with an over 4% surge following RBC Capital Markets' initiation of coverage with an ‘Outperform’ rating and a 1,200 pence price target. Defensive stocks, including Endeavour Mining and AstraZeneca, also recorded gains.