British equities opened the week on a subdued note on Monday, while the pound weakened against the U.S. dollar as markets reopened following the extended Christmas holiday.
By 08:05 GMT, the FTSE 100 was down a marginal 0.02%. Sterling slipped 0.1% against the dollar, with the GBP/USD pair falling back below the 1.35 level to trade near 1.34.
European markets also saw mild declines in early trading. Germany’s DAX edged 0.07% lower, while France’s CAC 40 slipped 0.08%, reflecting a cautious tone across the region.
BasePoint Capital agrees takeover of International Personal Finance
In corporate news, BasePoint Capital has agreed to acquire International Personal Finance PLC in an all-cash deal priced at 235 pence per share. The transaction values the lender at around £543 million.
The offer represents a 31.1% premium to International Personal Finance’s closing share price on July 29, 2025, the last trading day before the offer period began. It also implies a 45.3% premium to the company’s three-month volume-weighted average share price.
Grangex and Anglo American partner on Norway mine restart
Elsewhere, Grangex AB said it has secured a strategic commercial agreement with Anglo American PLC to restart operations at the Sydvaranger mine in northern Norway.
Under the terms of the deal, Anglo American will give up a $37 million royalty in return for exclusive, 100% life-of-mine offtake rights to direct reduction, ultra-high-grade magnetite concentrate produced at the site. The agreement is seen as a key step toward reviving production at the long-idled mine.
