London pre-open: Stocks to drop amid Hormuz uncertainty
By Michele Maatouk
Date: Monday 10 Aug 2026
(Sharecast News) - London stocks were set to fall at the open on Monday amid continued uncertainty over the reopening of the vital Strait of Hormuz.
The FTSE 100 was called to open around 39 points lower. At 0725 BST, Brent crude was up 0.1% at $83.63 a barrel and West Texas Intermediate was down 0.1% at $78.14.
Danske Bank said: "There were signs of progress towards an Iran-Oman shipping agreement on reopening the Strait of Hormuz, with Iranian Foreign Minister Araghchi confirming that talks with Oman are in their final stages.
"However, he was explicit that a deal would not automatically translate into a reopening of the waterway. Furthermore, Tehran tied a full reopening to further US concessions, including US force withdrawals, war damage compensation and sanctions relief."
In corporate news, Plus500 kept its full-year outlook unchanged after the fintech delivered record interim numbers, with revenue up 12% year-on-year to $462.9m, customer income rising 24% to a five‑year high of $460.8m, and EBITDA edging up 1% to $187.5m.
Building products manufacturer Marshalls said that adjusted profits had risen in the six months ended 30 June despite slightly lower year‑on‑year revenues, driven by improved execution and early benefits from its landscaping turnaround plan.
Adjusted operating profits increased 8.1% to £30.7m, driven by a recovery in landscaping products as service levels and customer engagement improved, while adjusted earnings per share rose 14.4% to 7.6p, helped by lower finance costs and a reduced tax rate. Group revenues edged 0.5% lower to £317.8m.
Outside the FTSE 350, Vimto maker Nichols said it has bought VitHit, a maker of low calorie, low sugar drinks, for €75m in cash.
Nichols said VitHit is an "excellent strategic fit" given its leading market positions in a structurally attractive soft drinks sub-category, complementary asset-light operating model, established profitability and significant growth opportunities.
The deal is expected to be immediately earnings enhancing.
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