London pre-open: Stocks seen up despite escalating MidEast tensions

(Sharecast News) - London stocks were set to gain at the open on Monday despite escalating Middle East tensions.

The FTSE 100 was called to open around 30 points higher. At 0730 BST, Brent crude was down 0.2% at $104.56 while West Texas Intermediate was 0.7% lower at $91.22 after US president Donald Trump declared an "energy ceasefire" between Russia and Ukraine.

Stocks were called higher despite escalating Middle East tensions over the weekend, after Iran-backed Houthis claimed responsibility for another strike on Riyadh's international airport. Danske Bank said the airport remains closed, "underlining the disruption risk, while Houthi warnings against using airports in Saudi Arabia suggest tensions could persist".

"Although energy conferences in Riyadh are continuing, the attacks highlight rising geopolitical risks and could add to market concerns around regional stability and energy infrastructure," it added.

In UK corporate news, recruitment firm Hays said firstquarter trading remained soft, with group net fees down 3% likeforlike, as permanent hiring weakened and several country exits continued to weigh on reported numbers.

Temp and contracting fell 1% on a likeforlike basis, with volumes broadly stable and German hours worked performing in line with expectations. Permanent net fees dropped 7%, driven by a 12% decline in volumes amid ongoing fragility in Northern Europe, though Southern Europe and North America delivered growth.

Hays said consultant net fee productivity rose 8%, marking a twelfth consecutive quarter of improvement, supported by highersalary placements and investment in AIenabled tools.

Palm oil producer AEP Plantations said it expected prices to remain supported through the final quarter of 2026, underpinned by food demand, firm energy markets and Indonesia's B50 biodiesel rollout, which is expected to strengthen domestic consumption.

The company which owns and operates plantations in Indonesia and Malaysia, reported a 13.3% rise in production for the nine months to 30 September to 924,000 tonnes, driven by stronger output in Kalimantan and the recently acquired PT AEP Pinago Plantations in South Sumatra.