Source: Sharecast
At 0825 BST, the FTSE 100 was up 0.1% at 9,144.02.
The meeting, which is due to take place in Washington, comes after Friday’s meeting between Trump and Zelensky failed to yield a ceasefire.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “The FTSE 100 looks set for a small dose of Monday motivation, helping to erase some of Friday’s losses as investors take a glass half-full approach to the global economic outlook. Investors are also waiting for the upcoming Jackson Hole central banker meeting, for clues about the direction of interest rates in the United States, with expectations that recent data will pave the way for more cuts.
"The future of Ukraine hangs heavy in the balance as Zelensky, flanked by European leaders, prepares to meet Trump. Putin’s high bar for a peace deal may scupper hopes for an end to the conflict, but with more details emerging about what land could be ceded or retained in Eastern Ukraine, there does seem be more substance to the talks.
"With less talk of tougher sanctions on Russia, oil prices dropped back as supply concerns faded, but amid the ongoing uncertainty Brent Crude has begun creeping higher and has headed back above $66 a barrel."
On home shores, figures from Rightmove showed that house prices fell in August, but sales hit a five-year high.
Corporate news was scarce as the summer lull set in, but Babcock jumped to the top of the FSTE 100 as RBC Capital Markets initiated coverage of the stock with an ‘outperform’ rating and 1,200p price target.
The bank said Babcock is a significantly better-quality business 4.5 years into a turnaround, but its 5x PE (NTM) discount versus the European defence sector fails to capture this.
"Babcock's UK MOD relationship, military operational asset engineering know-how and infrastructure ownership underpins high visibility," RBC said. "This, combined with a strong management team and execution, now provides strong prospects for success on an attractive hopper of opportunities in the UK and abroad."
Land Securities nudged higher after saying it exchanged contracts for the sale of its Queen Anne's Mansions office block in London to Arora Group for £245m.
The disposal is part of the property firm’s plan to release £2bn of capital from offices by 2030, as it focuses its portfolio on assets which can deliver sustainable income and EPS growth over the long term.
Great Portland Estates was also a touch firmer after it secured three new fully managed leasing deals, totalling 11,720 square feet of "premium, refurbished office space".
Close Brothers was in the red, however, after RBC Capital downgraded the stock to ‘sector perform’ from ‘outperform’.
Market Movers
FTSE 100 (UKX) 9,144.02 0.06%
FTSE 250 (MCX) 21,810.23 0.24%
techMARK (TASX) 5,308.70 0.30%
FTSE 100 - Risers
Babcock International Group (BAB) 1,017.00p 2.21%
Fresnillo (FRES) 1,735.00p 1.58%
IMI (IMI) 2,276.00p 1.34%
Diploma (DPLM) 5,365.00p 1.13%
BAE Systems (BA.) 1,778.00p 1.02%
Rightmove (RMV) 770.40p 0.89%
AstraZeneca (AZN) 11,692.00p 0.86%
British American Tobacco (BATS) 4,234.00p 0.86%
SSE (SSE) 1,798.50p 0.84%
National Grid (NG.) 1,052.50p 0.81%
FTSE 100 - Fallers
Anglo American (AAL) 2,148.00p -1.01%
HSBC Holdings (HSBA) 931.60p -0.78%
Barclays (BARC) 368.35p -0.75%
Prudential (PRU) 980.60p -0.73%
Rio Tinto (RIO) 4,481.50p -0.72%
Shell (SHEL) 2,620.50p -0.70%
Hiscox Limited (DI) (HSX) 1,311.00p -0.68%
Antofagasta (ANTO) 2,108.00p -0.66%
CRH (CDI) (CRH) 8,174.00p -0.58%
SEGRO (SGRO) 636.00p -0.53%
FTSE 250 - Risers
Dr. Martens (DOCS) 81.95p 9.71%
Aston Martin Lagonda Global Holdings (AML) 76.95p 2.26%
Endeavour Mining (EDV) 2,506.00p 2.04%
Barr (A.G.) (BAG) 699.00p 1.90%
Hochschild Mining (HOC) 303.60p 1.74%
Vesuvius (VSVS) 362.80p 1.74%
Rank Group (RNK) 140.60p 1.74%
Assura (AGR) 48.18p 1.65%
Future (FUTR) 754.00p 1.48%
Watches of Switzerland Group (WOSG) 327.00p 1.43%
FTSE 250 - Fallers
W.A.G Payment Solutions (WPS) 87.00p -2.25%
Vietnam Enterprise Investments (DI) (VEIL) 716.00p -1.65%
Cranswick (CWK) 5,170.00p -1.52%
Close Brothers Group (CBG) 508.50p -1.45%
Carnival (CCL) 2,003.00p -1.18%
SSP Group (SSPG) 162.00p -1.16%
Energean (ENOG) 916.50p -1.08%
BlackRock World Mining Trust (BRWM) 566.00p -0.88%
Wizz Air Holdings (WIZZ) 1,384.00p -0.79%
WH Smith (SMWH) 1,073.00p -0.74%