The FTSE 100 is anticipated to open lower on Monday morning, according to futures data from investment platform IG. This follows a 1.5 per cent decline for the UK's blue-chip index on Friday.
Falling oil prices contributed to a downturn in shares for BP and Shell. Additionally, Airtel Africa saw its shares drop by more than 11 per cent after plans for the floatation of its payments arm, Airtel Money, were scaled back.
Brent crude, the international oil price benchmark, fell by nearly one per cent to $103 per barrel at the end of last week. This was influenced by suggestions that Houthi attacks could cause greater disruption to Saudi Arabian oil pipelines than initially expected.
Russ Mould, investment director at AJ Bell, noted that a pullback in oil has eased inflation concerns and helped government bond yields decline from recent multi-year highs. He also highlighted investor relief that equity markets navigated a week where the US Federal Reserve raised rates and the Bank of England signalled a potential UK rate hike.