London pre-open: Stocks to fall at start of busy week
By Michele Maatouk
Date: Monday 02 Nov 2026
(Sharecast News) - London stocks were set to fall at the open on Monday as investors eyed this week's policy announcement from the Bank of England, the US midterm elections and the US non-farm payrolls report.
The FTSE 100 was called to open around 23 points lower. At 0720 GMT, Brent crude was down 2.9% at $110.09 a barrel and West Texas Intermediate was off 3.3% at $100.69 amid reports the US and Iran are seeking diplomatic options to end the conflict in the Middle East.
Danske Bank said: "It is a busy week ahead with the main focus on the US, where both the midterm election on Tuesday and nonfarm payrolls on Friday are due.
"We also have policy rate decisions from the Riksbank on Wednesday, and Norges Bank and the Bank of England on Thursday. On the inflation side, we receive preliminary prints from both the euro area and Sweden."
The BoE is widely expected to raise interest rates by 25 basis points to 4%. This would mark the first move in the base rate of 2026.
On Monday's macro calendar, S&P Global's UK manufacturing PMI for October will be released at 0930 GMT.
In corporate news, LondonMetric Property said its long-standing chief financial officer is to retire.
Martin McGann, who has been with LondonMetric since January 2013, will leave next summer. The firm said plans for a suitable replacement were already "well underway".
FirstGroup said it has agreed to sell five West Yorkshire depots and 330 buses to WYCA for £109m, generating an expected post-tax gain of about £30m and cash proceeds of around £55m in FY27. The phased fleet transfer will coincide with the rollout of bus franchising.
Separately, the group has won two West Yorkshire franchise contracts covering Leeds Bramley and Huddersfield. The five-year deals, which start in May 2027, are expected to generate around £40m of annual revenue.
Venture capital firm IP Group said it has been tapped by Aberdeen Investments to manage a UK venture‑growth portfolio within the CG Scottish Widows Growth LTAF, one of the first workplace‑pension vehicles to channel members' savings into high‑growth British science and technology companies.
Scottish Widows, Aberdeen Investments and IP Group said the mandate would launch with new investments in strategically important areas for the UK, including quantum computing, advanced battery technology and AI‑enabled healthcare.
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