London open: Stocks nudge down as airlines take a hit
By Michele Maatouk
Date: Monday 22 Sep 2025
(Sharecast News) - London stocks edged lower in early trade on Monday amid a dearth of corporate news, with airlines under the cosh.
At 0835 BST, the FTSE 100 was down 0.1% at 9,210.66.
Derren Nathan, head of equity research at Hargreaves Lansdown, said: "The FTSE 100 has dipped a touch this Monday morning, after a small retreat last week. Still, the index is up over 11.5% so far this year and up around 20% from its post-liberation day lows.
"However, UK stocks haven't quite kept pace with US stock markets, which ended last week on yet another record high on hopes for a further relaxation in monetary policy over the remainder of 2025.
"The combination of structural value drivers from the Artificial Intelligence boom and higher than expected resilience within the global economy is helping investor confidence to keep its head above water."
Earlier, the People's Bank of China kept the one-year and five-year loan prime rates (LPR) unchanged, in line with market expectations.
"While there is pressure for more stimulus, broad-based rate cuts may not be the preferred tool for China as they are also concerned about fuelling a liquidity-driven equity bubble. We expect more targeted stimulus measures coming soon," said Danske Bank.
In equity markets, corporate news was thin on the ground, but precious metals miner Fresnillo and gold miners Hochschild and Endeavour all jumped as gold and silver prices hit a record high.
Kathleen Brooks, research director at XTB, said: "The gold price has surged to a fresh record on Monday, and is above $3,700 per ounce, as fears continue to build about monetary policy loosening in the US as the economy remains resilient.
"The gold price's inexorable rise and multiple record highs, means that technical indicators like the MACD is looking overbought. However, as the world's oldest inflation hedge and with the Fed poised to embark on another monetary policy loosening cycle, gold is likely to remain well supported in the coming months."
Heavily-weighted miners were also in the black, with Rio Tinto, Glencore and Antofagasta among the top performers on the FTSE 100.
On the downside, airlines flew lower, with easyJet, BA and Iberia owner IAG and Wizz Air all weaker after a cyber attack caused disruption at European airports including Heathrow over the weekend.
Tate & Lyle was knocked lower by a downgrade to 'underweight' at Morgan Stanley.
Market Movers
FTSE 100 (UKX) 9,210.66 -0.07%
FTSE 250 (MCX) 21,552.04 -0.18%
techMARK (TASX) 5,431.40 -0.11%
FTSE 100 - Risers
Fresnillo (FRES) 2,386.00p 4.83%
Rio Tinto (RIO) 4,668.00p 1.50%
Glencore (GLEN) 316.20p 1.04%
Antofagasta (ANTO) 2,339.00p 0.69%
Centrica (CNA) 168.70p 0.54%
3i Group (III) 3,895.00p 0.44%
InterContinental Hotels Group (IHG) 8,808.00p 0.36%
BP (BP.) 422.05p 0.36%
BAE Systems (BA.) 1,958.00p 0.33%
Ashtead Group (AHT) 5,250.00p 0.31%
FTSE 100 - Fallers
easyJet (EZJ) 446.20p -1.54%
Haleon (HLN) 334.20p -1.24%
BT Group (BT.A) 195.35p -1.24%
International Consolidated Airlines Group SA (CDI) (IAG) 378.80p -1.23%
JD Sports Fashion (JD.) 87.38p -1.18%
SEGRO (SGRO) 629.00p -1.10%
Smurfit Westrock (DI) (SWR) 3,222.00p -1.01%
Land Securities Group (LAND) 556.00p -0.98%
Diageo (DGE) 1,798.00p -0.96%
Unite Group (UTG) 700.50p -0.92%
FTSE 250 - Risers
Hochschild Mining (HOC) 334.40p 6.43%
Endeavour Mining (EDV) 2,944.00p 4.10%
Me Group International (MEGP) 195.00p 3.39%
Assura (AGR) 47.74p 2.40%
Genus (GNS) 2,495.00p 1.84%
Harworth Group (HWG) 171.00p 1.79%
NextEnergy Solar Fund Limited Red (NESF) 63.80p 1.59%
BlackRock World Mining Trust (BRWM) 623.00p 1.30%
BlackRock Greater Europe Inv Trust (BRGE) 591.00p 1.20%
The Renewables Infrastructure Group Limited (TRIG) 74.70p 1.08%
FTSE 250 - Fallers
Tate & Lyle (TATE) 479.40p -4.08%
W.A.G Payment Solutions (EWG) 98.80p -3.61%
Aston Martin Lagonda Global Holdings (AML) 78.35p -2.91%
Great Portland Estates (GPE) 302.50p -1.94%
Wizz Air Holdings (WIZZ) 1,225.00p -1.29%
Big Yellow Group (BYG) 929.00p -1.28%
Workspace Group (WKP) 388.00p -1.27%
Investec (INVP) 558.50p -1.24%
Derwent London (DLN) 1,638.00p -1.21%
Kier Group (KIE) 210.00p -1.18%
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