FTSE LIVE: Metro Bank to offload £500m loan book; Oil rises as Iran tensions escalate; All eyes on Westminster ahead of political showdown
- Metro Bank said discussions are taking place over the sale of its loan portfolio
- The price of oil is rising on Monday as tensions with Iran escalate
- Voting for the next Tory leader closes today – it’ll be a big week in British politics
Embattled lender Metro Bank has confirmed that talks are taking place over the sale of its loan portfolio amid reports that it is closing in on a £500million deal with a US hedge fund.
The price of oil is on the rise as political tensions in the Persian Gulf heighten. It comes after Iran seized a UK-flagged oil tanker on Friday. Brent crude is now up 1.6 per cent at more than $63 a barrel.
And it promises to be an eventful week in British politics as voting closes in the Tory leadership race today and the new Prime Minister is named on Tuesday.
It promises to be an eventful week in British politics as voting closes in the Tory leadership race