London open: FTSE falls as investors eye Iran's next move
By Michele Maatouk
Date: Monday 23 Jun 2025
(Sharecast News) - London stocks fell in early trade on Monday as investors awaited Iran's next move, after the US struck Iranian nuclear sites over the weekend.
At 0820 BST, the FTSE 100 was down 0.4% at 8,743.98.
Richard Hunter, head of markets at Interactive Investor, said: "There is tension but not trauma as investors monitor developments in the Middle East.
"With an eye on the ongoing situation, US investors were for the most part unwilling to take positions ahead of the weekend and markets generally drifted as a result. This reticence proved prescient as the US struck three Iranian nuclear sites on Saturday. In turn, oil took another leg higher on supply concerns, although the gains were tempered by suggestions that OPEC is well placed to turn on the supply taps should the need arise.
"The next turn of events will inevitably dictate investor sentiment, with traders currently braced for retaliatory Iranian action, as well as keeping a close eye on the Strait of Hormuz, where a disruption of oil flows could follow. At the moment, the recent spike in the oil price has led to a gain of 4.8% so far this year, but perhaps of equal concern is the inflationary effect the rising level could have."
In equity markets, oil giants BP and Shell were the top gainers on the FTSE 100 as oil prices rose.
Airlines took a hit from the prospect of higher fuel costs, however, with easyJet and BA and Iberia owner IAG the worst performers on the top flight index.
Elsewhere, Spectris surged as the supplier of precision instrumentation and controls said it has agreed to be taken over by private equity investor Advent in a £3.8bn deal.
Assura was a touch firmer after the healthcare property firm accepted an increased £1.79bn bid from Primary Health Properties only days after recommending a £1.7bn final offer from private equity outfits KKR & Stonepeak.
Market Movers
FTSE 100 (UKX) 8,743.98 -0.35%
FTSE 250 (MCX) 21,082.23 -0.31%
techMARK (TASX) 4,993.58 -0.48%
FTSE 100 - Risers
BP (BP.) 391.50p 1.77%
Shell (SHEL) 2,708.50p 0.95%
Berkeley Group Holdings (The) (BKG) 3,838.00p 0.73%
Convatec Group (CTEC) 284.60p 0.57%
Bunzl (BNZL) 2,278.00p 0.26%
Compass Group (CPG) 2,490.00p 0.20%
Sainsbury (J) (SBRY) 286.60p 0.07%
Barratt Redrow (BTRW) 462.90p 0.02%
Pershing Square Holdings Ltd NPV (PSH) 3,828.00p 0.00%
Persimmon (PSN) 1,312.50p 0.00%
FTSE 100 - Fallers
easyJet (EZJ) 507.60p -2.20%
International Consolidated Airlines Group SA (CDI) (IAG) 306.90p -1.98%
Smurfit Westrock (DI) (SWR) 3,155.00p -1.56%
3i Group (III) 3,985.00p -1.48%
Diageo (DGE) 1,853.50p -1.46%
Beazley (BEZ) 922.00p -1.34%
Flutter Entertainment (DI) (FLTR) 19,740.00p -1.23%
Vodafone Group (VOD) 75.66p -1.20%
Hiscox Limited (DI) (HSX) 1,254.00p -1.18%
Mondi (MNDI) 1,185.00p -1.17%
FTSE 250 - Risers
SDCL Efficiency Income Trust (SEIT) 54.00p 5.47%
Watches of Switzerland Group (WOSG) 431.00p 4.97%
Harbour Energy (HBR) 212.60p 3.30%
Target Healthcare Reit Ltd (THRL) 106.60p 2.90%
Me Group International (MEGP) 234.00p 2.41%
Mitchells & Butlers (MAB) 288.00p 2.31%
Ithaca Energy (ITH) 183.60p 2.23%
Future (FUTR) 719.50p 1.91%
Energean (ENOG) 905.00p 1.74%
Pantheon International (PIN) 307.00p 1.66%
FTSE 250 - Fallers
Bloomsbury Publishing (BMY) 495.00p -4.99%
Trainline (TRN) 272.00p -4.09%
AO World (AO.) 91.20p -3.70%
Discoverie Group (DSCV) 652.00p -3.55%
Softcat (SCT) 1,826.00p -3.28%
Close Brothers Group (CBG) 356.80p -2.41%
Safestore Holdings (SAFE) 656.00p -2.31%
Derwent London (DLN) 2,014.00p -2.23%
Pagegroup (PAGE) 239.20p -2.21%
European Opportunities Trust (EOT) 890.00p -2.20%
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