FTSE 100 LIVE: European stocks mixed with UK investment summit in focus

Daron Acemoglu, Simon Johnson and James A Robinson have been awarded the Nobel prize in economics "for studies of how institutions are formed and affect prosperity," the The Royal Swedish Academy of Sciences has announced.

The Nobel Committee praised the trio for explaining why “societies with a poor rule of law and institutions that exploit the population do not generate growth or change for the better.”

Read more here

Logistics giant DP World announced a £1bn investment to expand its London Gateway port as the UK's International Investment summit kicked off on Monday.

The Dubai-based company said it would increase capacity at the port by building two new shipping berths, as well as adding a second rail terminal to handle an expected increase in in containerised trade.

DP World said the expansion would create a further 400 permanent new jobs, in addition to the 1,200 currently employed at the site.

The announcement comes after a row involving UK transport secretary Louise Haigh last week in which she criticised its P&O Ferries division when announcing new worker protections.

Haigh had called P&O a "rogue operator" in an interview with ITV News and encouraged consumers to boycott the company. Haigh's comments came two years after P&O laid off nearly 800 British seafarers and replaced them with lower-paid overseas staff.

Following Haigh's comments, it was reported that DP World had put its announcement of further investment in the London Gateway port on hold.

However, prime minister Keir Starmer said on the BBC's Newscast podcast said the comments were "not the view of the government".

Executives from some of the world's biggest investment firms have said that they are "optimistic" about Britain's prospects, in a letter published by The Times ahead of today's International Investment Summit in London.

Goldman Sachs (GS) CEO David Solomon, Bank of America (BAC) president of international Bernard Mensah, JPMorgan (JPM) global banking co-head Filippo Gori, Legal & General (LGEN.L) CEO António Simões and Aviva (AV.L) CEO Amanda Blanc were among those signatories on the letter.

"As global investors, we believe that there is a very real opportunity for the UK to grow its economy by attracting international investment," the letter said.

"Britain’s educational establishments, legal system, financial services sector and language form the bedrock of a strong investment proposition. Technological developments, advances in the energy system and greater freedom in capital flows have further enhanced Britain’s position.

"With greater stability, its attractiveness is increased even further. We are optimistic about the future of the economy, and believe it is time to invest in Britain."

Oil prices dropped on Monday, reacting to disappointing economic data from China, the world’s largest crude importer, which revealed a persistent deflationary trend. The country’s plans for fiscal stimulus also failed to meet market expectations, further weighing on prices.

Brent crude futures (BZ=F) lost 2.2%% to $77.31 a barrel, while US West Texas Intermediate (CL=F) crude retreated 2.2% to $73.87 per barrel during early European trading.

Crude markets were additionally affected by ongoing discussions about a potential ceasefire in the Middle East. Rising tensions in the region had previously propelled oil prices upward for two consecutive weeks, but speculation of a de-escalation has shifted sentiment.

Read more from Yahoo Finance UK's Pedro Goncalves here.

US stocks were rose slightly in pre-market trading on Monday morning, with S&P 500 futures (ES=F) up 0.12%.

This comes after both the S&P 500 (^GSPC) and the Dow Jones (^DJI) hit fresh highs at the end of last week.

The latest US producer price index reading helped further ease concerns around inflation, with it coming in flat month-on-month in September. On an annualised basis, producer prices grew by 1.8%, slowing from the 1.9% reading recorded in August.

Earnings beats from major US banks also helped drive markets higher. Other major US companies are set to report this week, including streaming giant Netflix (NFLX), as well as banks Goldman Sachs (GS) and Bank of America (BAC).

Markets in Asia had a mixed start to the week, with China's SSE Composite (000001.SS) closing Monday's session 2% higher, while the Hang Seng (^HSI) ended the day 0.75% in the red.

In a closely-watched press conference on Saturday, China's minister of finance Lan Fo'an promised to "significantly increase" debt issuance to help shore up the economy, but did not offer more details on the size of stimulus.

Meanwhile, data released on Sunday showed deflationary pressures continued to mount in China. The consumer price index (CPI) grew 0.4% year-on-year in September, down from 0.6% in August, according to data from the National Bureau of Statistics (NBS).

China's producer price index (PPI) was down 2.8% in September, compared with a 1.8% decline in August.

Prime minister Keir Starmer is set to promise to remove barriers and red tape for those wishing to invest in the UK, as the government’s inaugural International Investment Summit begins in London.

Pre-released remarks show he is expected to say the government will do everything it can to "galvanise growth". That includes "getting rid of regulation that needlessly holds back investment.”

He will pledge to “upgrade the regulatory regime to make it fit for the modern age, making Britain fit to harness all opportunities.”

CEOs and investors from across the globe will meet with ministers, first ministers, and local leaders at the Guildhall in the City of London. Companies such as Google parent Alphabet (GOOG), BlackRock (BLK) and Brookfield Asset Management (BAM) are set to be in attendance.

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Hello from London and welcome to a new week of market news.

Today the UK will host the international investment summit, with prime minister Keir Starmer, as well as global business leaders, set to give speeches.

Investors are also looking ahead to the release of jobs data and the latest inflation figure, in the UK this week.

Third-quarter earnings season is now well underway, with Volkswagen (VOW3.DE) due to report on Monday,

Let's get to it.