The FTSE 100 index maintained a steady position around 8,280 on Monday, reflecting a cautious pullback from last week as markets evaluated recent corporate developments and economic indicators while factoring in potential risks stemming from geopolitical tensions in the Middle East and rising credit costs in the United States.
Data from Halifax revealed a 4.7% increase in house prices for Stember, marking a significant rise from the previous month and slightly surpassing market expectations. This uptick may support a more gradual monetary loosening approach by the Bank of England.
Shares of Shell hovered just above the flatline, despite the company forecasting reduced refining and chemicals margins in its latest production rort. Conversely, Rio Tinto saw a slight decline after news broke of its $3.3 billion acquisition proposal for US miner Arcadium Lithium, aligning with recent strategic moves by major mining firms to boost their investments in key electrification metals.
Additionally, Experian rose nearly 1% following an upgrade in its recommendation from Deutsche Bank.
Since the beginning of 2024, the main stock market index in the United Kingdom (GB100) has risen by 568 points, or 7.34%. Analysts and global macro models predict that the United Kingdom Stock Market Index will reach approximately 8,133.49 points by the end of the current quarter. Looking ahead, projections suggest a trading level of around 7,744.92 in the next 12 months.