The FTSE 100 slipped on Monday, pressured by declines in major consumer stocks, with Unilever and BAT falling 1.4% and 1% respectively. Those losses were partly offset by strength in the energy sector, as Shell and BP gained 1.1% and 1.3% in tandem with rising crude prices.
Market attention remained fixed on the escalating US–Iran dispute, after reports that the United States had targeted three Iranian oil tankers in response to attacks on US warships. Energy Secretary Chris Wright cautioned that a new nuclear deal with Tehran is unlikely in the near term, implying Washington may instead prioritize efforts to dismantle Iran’s nuclear capabilities.
On the domestic front, data from Lloyds showed UK house prices slipped 0.2% in August, pushing annual price growth into negative territory for the first time since November 2023.