FTSE 100 Rises as Oil Prices Slip Amid Tensions with Iran
The FTSE 100 index closed higher in London on Monday, outperforming its European peers. The index rose by 37.76 points, or 0.4%, to 10,854.32. This gain came despite the CAC 40 in Paris closing down 0.4% and the DAX 40 in Frankfurt shedding 0.1%. Oil prices edged lower on Monday, with Brent crude for October delivery trading at $92.74 per barrel.
US Treasury Secretary Scott Bessent declared an 'economic D-Day' against Iran, stating that any country enabling the Islamic republic would become a global pariah. However, Iranian Deputy Foreign Minister Kazem Gharibabadi countered on X that the US narrative does not add up.
The pound traded at $1.3639 on Monday afternoon, up from $1.3625 at Friday's equities close. Against the euro, sterling firmed to 1.1689 euros from 1.1672 euros. The yield on the US 10-year Treasury narrowed to 4.7% on Monday from 4.74% at Friday's London equity close.