FTSE 100 Live: Tech jitters, a Bitcoin slump and the Fed’s hesitation set the tone for London

• FTSE opens 3 points higher at 9,701.79
• WPP up 5% on bid report 

8.18am: In the green, but only just

After a triple-digit decline on Friday, the ship was steadied a little as the FTSE 100 opened in the green on Monday – but only just.

The blue-chip index added three points at the open to 9,701.79 after a mainly down session in Asia earlier and against predictions of a nine-point decline.

The Footsie’s biggest riser was WPP after weekend reports suggested rival Havas may be running the slide-rule over parts of the business.

Private equity was also said to be having a look-see.

The fallers were a mix of natural resources and financial stocks.

7.15: A cocktail of concern 

Tech worries, a Bitcoin implosion and the Fed’s reluctance to nail down a further US rate cut look set to dominate sentiment in London this morning, with the FTSE 100 expected to open around nine points lower after Friday’s bruising triple-digit fall.

Investors are heading into the week on edge as optimism over a December US rate cut continues to fade.

Jerome Powell has warned that another reduction is far from assured, and fellow policymakers have signalled similar doubts, pointing to inflation that remains stuck above the central bank’s 2% target.

A backlog of US economic data, delayed by the now-resolved government shutdown, adds another layer of uncertainty.

The tech sector, which powered markets higher through the spring and summer, is showing strain.

Traders are increasingly uneasy about stretched valuations, and Nvidia’s results later in the week are widely seen as a litmus test for the artificial-intelligence boom.

Crypto has not been spared. Bitcoin briefly sank below its end-2024 level, erasing all its gains for the year and reinforcing the shift towards risk aversion.

Asian trading offered little cheer. Markets in Hong Kong, Shanghai and Sydney slipped, while Tokyo was hit hardest after China advised its citizens not to travel to Japan, knocking retailers and tourism stocks.