The FTSE 100 ticked slightly higher on Monday as renewed optimism surrounding U.S.–China trade discussions supported sentiment across U.K. markets. By 11:45 GMT, London’s blue-chip index rose 0.05%, while the British pound strengthened 0.2% to $1.33.
Elsewhere in Europe, momentum was more subdued: Germany’s DAX and France’s CAC 40 both slipped 0.1%, as investors weighed positive trade signals against broader concerns about slowing regional growth.
Traders remain focused on the potential easing of tariff pressures after U.S. officials described weekend talks in Malaysia as “constructive.” Optimism over a possible preliminary trade framework bolstered U.K. equities, particularly export-heavy industrial and commodity stocks.
- FTSE 100: +0.05%
- GBP/USD: +0.2% to 1.33
- DAX/CAC: –0.1% each
The modest gains also reflect investor caution ahead of the Bank of England’s policy meeting later this week, where officials are expected to discuss future rate guidance amid a stronger pound and mixed inflation data.
4basebio Surges on FDA-Approved Clinical Trials
Biotech firm 4basebio (LON:4BB) jumped 10.3% after announcing that a global Tier 1 pharmaceutical partner began Phase I/II clinical trials using its opDNA® synthetic DNA template. The trials, approved by the U.S. Food and Drug Administration (FDA), mark a pivotal milestone for the Cambridge-based company’s entry into next-generation genetic therapies.
According to 4basebio, the unnamed pharma partner is leveraging the synthetic DNA platform for an mRNA-based product, signaling growing adoption of advanced DNA technologies within mainstream drug development.
This breakthrough positions 4basebio as one of the few U.K. biotech firms with FDA-cleared trials, bolstering investor confidence amid renewed global interest in biotech innovation and gene-based medicine.
Greencore Merger Faces Scrutiny; HSBC Eyes $1.1B Legal Hit
In the corporate sector, Britain’s Competition and Markets Authority (CMA) raised concerns over the proposed £1.2 billion ($1.61 billion) merger between Greencore Group and Bakkavor PLC (LON:BAKK). Regulators warned the deal could reduce competition in the own-label chilled sauces market, where both companies hold major supply contracts with leading U.K. supermarkets.
Meanwhile, HSBC Holdings PLC (LON:HSBA) disclosed that it has set aside $1.1 billion to cover potential liabilities tied to a Luxembourg lawsuit connected to the Bernard Madoff Ponzi scheme. The claim, filed by Herald Fund SPC, seeks restitution for securities and cash tied to the Madoff Investment Securities LLC fraud—still one of the largest financial crimes in U.S. history.
The bank said the reserve was a precautionary measure, though it underscores the enduring legal and reputational legacy of Madoff’s $65 billion collapse.
