FTSE 100 LIVE: Markets mixed as Zelensky and European leaders head to Washington for war talks

The FTSE 100 (^FTSE) and European markets were mixed in early trade on Monday as Ukrainian president Volodymyr Zelensky and a handful of European leaders head to Washington DC following president Donald Trump's meeting with Russian leader Vladimir Putin in Alaska on Friday.

Trump said that Ukraine will not be able to join Nato as part of a peace deal, but that Zelensky can opt to end the war "if he wants to". The US president also ruled out the possibility of Ukraine regaining Crimea.

US special envoy Steve Witkoff, who was in Alaska, told reporters on Sunday that Russia will allow the US and Europe to give Ukraine security guarantees, however it's not clear what these will be.

Oil prices moved slightly higher on Monday morning as traders weigh a potential end to the conflict.

London's premier index rose 0.2% in early trade. Mining stock Endeavour (EDV.L) and defence stock BAE Systems (BA.L) led the index higher. The DAX (^GDAXI) in Germany fell 0.3%, retracing gains made last week. The CAC 40 (^FCHI) in Paris dipped 0.4%. US stock futures also fell, pointing to losses when markets open at 2.30pm BST.LIVE7 updates

12 mins ago

Lucy Harley-McKeown

Gold prices higher

Gold prices climbed on Monday morning, recovering from a two-week low as investors turned their attention to high-stakes talks between US president Donald Trump, his Ukrainian counterpart Volodymyr Zelensky and European leaders, amid tentative signs of a possible peace breakthrough with Russia.

At the time of writing, gold futures rose 0.4% to $3,395.50 per ounce and spot gold climbed 0.6% to $3,356.05 per ounce, after hitting its lowest level since 1 August.

"Gold was on the back foot to start the day, but... was able to reverse course with buyers stepping up to around $3,330 as a value play. US treasury yields gave up some of Friday's gains which also helped to make life easier for the gold price," KCM Trade chief market analyst Tim Waterer said.

Peace proposals on the table include Russia ceding control of small, currently occupied territories, while Ukraine would forgo larger sections of its eastern regions that Russia has so far failed to seize. The proposals were reportedly discussed between Trump and Russian president Vladimir Putin during their summit in Alaska.

“Hope over fears,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

She added: "Gold demand remains strong — showing investors are cautious ahead of Trump’s meeting with Zelensky. Material progress could spark further oil weakness, a rally across equities, and softer gold demand. Disappointment would bring oil bulls back, pressure equities (except defense), and lift gold."

Read more on Yahoo Finance UK 34 mins ago

Lucy Harley-McKeown

Mansions deal lifts Land Securities

Russ Mould, investment director at AJ Bell, writes: 44 mins ago

Lucy Harley-McKeown

White House releases schedule for world leaders' visit Today at 7:15 AM UTC

Lucy Harley-McKeown

Lionesses 'surprise' victory weighs on Entain

One of the UK’s biggest bookies has said it lost out on winnings paid in the women’s Euros final as patriotic fans got behind the Lionesses, while the men’s Club World Cup drew in “surprising” global support.

Entain, which owns betting shops Ladbrokes and Coral, said the tournaments were among the most bet-on sporting events of the year so far.

England’s Lionesses were victorious in the Women’s Euro 2025, having beaten Spain on penalties in last month’s final.

So-called “patriotic punters” typically get behind their own team or country by betting on them winning.

If results go in the favour of gamblers, this can result in losses for bookies who have to pay out the winnings.

Rob Wood, the group’s finance boss and deputy chief executive, told the PA news agency: “We did lose a little bit of money on that match.

“But because it was a draw at 90 minutes, that wasn’t a bad outcome.” Today at 7:13 AM UTC

Lucy Harley-McKeown

Coming up this week: Jay Powell at Jackson Hole

Our US team writes:

The investing world will turn its attention to northwestern Wyoming in the week ahead, with Federal Reserve Chair Jerome Powell set to give his most important policy speech of the year on Friday at the annual Jackson Hole Economic Symposium.

Held each year at the Jackson Lake Lodge in Grand Teton National Park, the Kansas City Fed's annual meeting often serves as a crucial set piece in the Fed chair's calendar that signals key shifts in the central bank's thinking.

Ahead of Powell's speech — likely to be his last as Fed chair — markets are placing the probability the Fed will cut rates by at least 0.25% next month at around 85%. Clues from Powell about the speed and depth of the cycle the Fed is about to embark on will be the week's biggest market-moving event. Today at 7:10 AM UTC

Lucy Harley-McKeown

UK house sellers cut asking price by average £10,000

Pedro Goncalves writes:

Homes are selling for an average of £10,000 below asking price as sellers try to secure a sale in a buyers' market.

The average price of a newly listed home fell by 1.3% in August to £368,740, a £4,969 decline. Sellers have now lowered asking prices by over £10,000 since May, a figure Rightmove (RMV.L) analysts said reflects growing pricing realism amid elevated levels of market inventory and a more cautious buyer base.

“Savvy summer sellers have read the room,” said Colleen Babcock, property expert at Rightmove (RMV.L). “[They] are coming to market with even more competitive pricing than usual to really stand out and attract serious and active buyers. The strategy is working.”

The property site said that despite broader price moderation, buyer demand remains robust, supported by improving affordability and a slight cooling in mortgage rates.

Read more on Yahoo Finance UK Today at 7:08 AM UTC

Lucy Harley-McKeown

Good morning!

Hello from London. It's Lucy Harley-McKeown — ready to bring you the markets and economics news for Monday.

This morning we've already had the Rightmove UK house price update (more on that later).

As earnings season slows Palo Alto Networks (PANW) reports results in the US.

Otherwise we'll be looking at the potential moves in the Russia-Ukraine conflict and the effect that's having on investor confidence.

Let's get to it.

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