Welcome back to the FTSE 100 liveblog from City AM

Welcome back to City AM’s FTSE 100 liveblog.

The UK’s blue-chip index is set to make gains on Monday morning, according to futures from investment platform IG.

This would see the FTSE 100 reverse some of the heavy losses it suffered on Friday, when the index closed 1.5 per cent lower. Falling oil prices pushed down BP and Shell, while Airtel Africa slumped by more than 11 per cent after it emerged that the floatation of its payments arm, Airtel Money, had been scaled back.

Russ Mould, AJ Bell’s investment director, said: “A pullback in oil has dialled down fears about inflation and helped government bond yields ease from their recent multi-year highs.

“We have seen this story play out in microcosm multiple times over the months since the Iran conflict started in February, with a more concerted move lower for oil likely to require more solid evidence of diplomatic progress in the short term.

“However, there will be relief that equity markets have successfully navigated a week where the US Federal Reserve put up rates and the Bank of England kept its powder dry but signalled clearly that a UK rate hike might not be far away.”

Brent crude – the international benchmark for oil prices – fell by nearly one per cent to $103 per barrel at the end of last week, as investors were encouraged by suggestions that the disruption to Saudi Arabian oil pipelines from Houthi attacks will be worse than initially feared.

But oil prices remain near their highest level since May and Iran recent language is unlikely to soothe tensions, after it warned the US of “painful” retaliation if Washington launches new attacks.

This week, investors will also be contending with the fear that UK borrowing costs could surge again after hitting their highest levels since 2007 in recent weeks.

We will be bringing you all the latest market updates and analysis.

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