The FTSE 100 opened flat on Monday, ending a volatile week that saw U.S. President Donald Trump's tariff threats. The pound strengthened above $1.36, while European indexes traded mixed. The blue-chip index was unchanged as of 0905 GMT, with the DAX up 0.1% and the CAC 40 down 0.1%.

Ryanair Holdings reported a steep 80% quarterly profit drop to €30 million, hit by an €85 million Italian competition fine. S4 Capital beat full-year forecasts, while Costain Group met profit expectations. Spire Healthcare shares surged over 16% on private equity takeover talks.

Investors now watch for further corporate earnings and the pound's trajectory amid global trade tensions. The market's muted start suggests caution after last week's swings, with company-specific news driving individual stock movements more than the broader index.