The FTSE 100 Index Closes 0.56% Higher

The FTSE 100 Index rose 58 points or 0.56 percent on Monday to close at 10319 points. Leading the gains are Endeavour (2.82%), Unite Group (2.76%) and Segro (2.71%). Top losers were Vistry Group (-4.26%), Rightmove (-2.41%) and Croda International (-2.39%).

The FTSE 100 rose 0.6% on Monday, rebounding after three consecutive sessions of losses, supported by a pause in the oil rally as hopes grew that more tankers could pass through the Strait of Hormuz and signs that major economies may release additional stockpiles. Although traffic through the strait remains near a standstill due to the conflict in Iran, US crude eased to around $95 per barrel as a few vessels began moving through the route, reducing concerns over inflationary pressures. Gold miners performed well with Endeavour up nearly 3% and Fresnillo gaining 0.9%, while banks NatWest rose 1.8% and HSBC Holdings 1.3%. Energy majors Shell and BP gained more than 1% each, and other heavyweight stocks including Unilever, Rolls Royce and BAT climbed 0.9% to 1.2%, while National Grid fell about 1.1%.

The FTSE 100 traded 0.3% higher on Monday, attempting to recover after three straight sessions of losses, supported by comments from President Trump who increased pressure on other nations to help reopen the Strait of Hormuz and said the US is in talks with Iran. The remarks appear to be offsetting broader uncertainty in markets. During a recent call with G7 leaders, Trump was repeatedly asked about his strategy for the conflict with Iran but declined to give details, saying he had several options in mind and wanted the conflict to end soon. Energy stocks led gains with BP up 1.7% and Shell rising 1.3% as Brent crude remained elevated just below 105 dollars per barrel. Other heavyweights including HSBC, Unilever, Rolls Royce and BAT gained more than 0.5%. Travel and leisure stocks lagged with IAG and Intercontinental Hotels down about 1.5%, while miners Fresnillo (-1.3%) and Antofagasta (-1%) fell as gold and copper prices extended losses for a fourth session.