London open: FTSE 100 pushes higher as oil prices fall back

26th Oct 2026 09:02

(Sharecast News) - The London market opened on the front foot on Monday ahead of a critical week for economic and corporate news, supported by a fall in the oil price.

As at 0845 GMT, the FTSE 100 was up 0.50% at 10,744.12, while benchmark Brent crude was down 1% at $115.19 a barrel and West Texas Intermediate was 2% weaker at $101.43. The fall came as Tehran was poised to host senior officials from Saudi Arabia, Pakistan and Turkey, for talks about regional security.

In an interview with Iranian state television, Ali Bagheri Kani, deputy secretary of Iran's Supreme National Security Council, said this week's visit could mark the beginning of efforts to build "a region characterised by stability, calm and progress", although he did not provide any further details.

Oil prices had spiked on Friday, amid growing fears that Donald Trump would resume US attacks on Iran after the mid-term elections

Closer to home, and traders were looking towards this week's Budget, the first from recently installed prime minister Andy Burnham and his chancellor John Healey. It is widely expected that Healey is set to announce a rise in the full state pension, which could drag around 1m pensioners into paying income tax. To avoid that, the Treasury is set to announce a rise in the tax-free allowance for low-income pensions to £13,036.

As well as the Budget, traders will also hear from some of the market's biggest constituents this week, including HSBC, Shell and AstraZeneca.

Richard Hunter, head of markets at Interactive Investor, said: "As investors strap in for a potential rollercoaster ride this week, the FTSE 100 has opened in defiant mood, propelled by a 6% gain for Computacenter.

"Fresnillo and Endeavour Mining found support from a stronger gold price, although some weakness across traditionally defensive names showed that the risk-on approach was not in full flow."

Technology and services provider Computacenter said it had delivered another stronger‑than‑expected quarter, prompting the group to lift its full‑year guidance after a robust performance across both technology sourcing and services. Computacenter reported an "excellent" third‑quarter showing, with technology sourcing revenues continuing to grow sharply, driven by hyperscale and neocloud demand in North America and the UK. Services revenue also rose year‑on‑year, as solid organic growth in professional services more than offset a decline in managed services.

Outside of the top flight, and Man Group announced it was expanding its strategic relationship with Japan's Meiji Yasuda Insurance Company, nearly two years after the partnership was first announced. The insurer will increase its capital commitment to the British investment firm's investment strategies to Y200bn (£940m) over the next three years, with a particular focus on private credit. The two will also work together to develop new products for the Japanese market.

Yasuda is also considering taking a 5% equity stake in Man Group as part of the deal.

Plus500 was also higher, after it confirmed full-year revenues and earnings were on course to beat market expectations, following a bumper third quarter during which the fintech expanded its global reach and product suite.

Market Movers

FTSE 100 (UKX) 10,741.60 0.48%

FTSE 250 (MCX) 24,362.38 0.52%

techMARK (TASX) 6,285.34 0.99%

FTSE 100 - Risers

Computacenter (CCC) 4,900.00p 6.84%

Babcock International Group (BAB) 970.80p 3.36%

3i Group (III) 2,361.00p 3.32%

International Consolidated Airlines Group SA (CDI) (IAG) 406.00p 2.84%

Antofagasta (ANTO) 3,121.00p 2.56%

IG Group Holdings (IGG) 963.00p 2.39%

Anglo American (AAL) 3,713.00p 2.31%

InterContinental Hotels Group (IHG) 164.95p 2.30%

Rolls-Royce Holdings (RR.) 1,190.80p 2.20%

Barclays (BARC) 415.15p 2.15%

FTSE 100 - Fallers

Experian (EXPN) 3,048.00p -1.51%

BP (BP.) 629.50p -1.28%

SSE (SSE) 2,493.00p -0.83%

The Sage Group (SGE) 1,178.50p -0.80%

Tesco (TSCO) 534.40p -0.78%

Ithaca Energy (ITH) 298.10p -0.73%

Croda International (CRDA) 3,617.00p -0.52%

Scottish Mortgage Inv Trust (SMT) 1,517.50p -0.49%

Shell (SHEL) 4,011.50p -0.43%

Autotrader Group (AUTO) 538.80p -0.41%

FTSE 250 - Risers

Ceres Power Holdings (CWR) 267.40p 4.51%

Plus500 Ltd (DI) (PLUS) 3,438.00p 4.50%

Rank Group (RNK) 82.30p 4.44%

WH Smith (SMWH) 437.00p 3.96%

Man Group (EMG) 325.40p 3.76%

Seraphim Space Investment Trust (SSIT) 180.00p 3.69%

NCC Group (NCC) 169.80p 3.03%

Oxford Biomedica (OXB) 528.00p 2.92%

Pan African Resources (PAF) 111.00p 2.78%

Ashoka India Equity Investment Trust (AIE) 241.00p 2.77%

FTSE 250 - Fallers

Utilico Emerging Markets Ltd (DI) (UEM) 273.00p -5.86%

Kainos Group (KNOS) 1,341.00p -3.57%

IntegraFin Holding (IHP) 359.00p -2.58%

BlackRock Smaller Companies Trust (BRSC) 260.00p -2.26%

Diversified Energy Company (DI) (DEC) 1,080.00p -2.00%

Baltic Classifieds Group (BCG) 2.25p -1.83%

JPMorgan Emerging Markets Growth & Income (JMGI) 152.00p -1.80%

Dr. Martens (DOCS) 64.50p -1.68%

Pacific Horizon Inv Trust (PHI) 958.00p -1.44%

CVS Group (CVSG) 1,299.00p -1.37%