Highlights
- FTSE 100 opens 25 points higher at 10,720
- CVC walks away from Bodycote
- Entain holds guidance after Brazil move
Blue-chips open in the green
The FTSE 100 opened its weekly account in the green, matching pre-market predictions of a 25-point gain.
Bodycote, the coatings specialist, fell around 3% in early trading after CVC walked away from a counter-bid for the business, leaving the way clear for Veritas to take the business private.
Entain was also an early loser, despite maintaining its forecasts in the face of Brazil's online betting ban.
FTSE 100 set to open higher despite Asian sell-off
The FTSE 100 is expected to open 25 points higher on Monday, according to futures prices, bucking a weaker session across most of Asia.
Chipmakers led the selling in Asia after OpenAI, the ChatGPT developer, paused training of some of its most advanced artificial intelligence (AI) models while it strengthens safety controls.
Samsung Electronics and SK Hynix, the South Korean memory chip makers, each fell almost 5%.
Investors fear a slower pace of AI development could curb demand for chips and data centres.
Brent crude, the global oil benchmark, rose more than 2% to above $106 a barrel after President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz.
Higher energy costs stoked inflation fears, and US 30-year Treasury yields rose close to their highest level since 2004.
Markets are pricing in a roughly 66% chance of another Federal Reserve rate rise in October.
Australia's central bank is widely expected to raise rates by a quarter point on Tuesday.
