FX.co ★ FTSE 100 Starts Week Lower

The FTSE 100 slipped more than 0.5% on Monday, as escalating tensions in the Middle East pushed oil prices higher and dampened broader market sentiment. Attention also turned to Andy Burnham, who is poised to become the UK’s next prime minister, the country’s seventh leader in just over a decade. Banking stocks were among the biggest drags, with HSBC, Lloyds Banking, Barclays, NatWest and Standard Chartered all declining between 0.4% and 0.8%. Segro fell about 2% after rejecting a third takeover approach from US logistics property group Prologis, which valued the company at roughly £13.5 billion. Unilever slid 1.6%, Rolls-Royce dropped 1%, and AstraZeneca, GSK and BAT also traded lower. By contrast, energy heavyweights Shell and BP outperformed, supported by the rise in crude prices.