FTSE 100 Supported by Oil Companies

The FTSE 100 Index decreased 0.9 points or 0.01 percent on Monday to close at 10496 points. The decline was led by IG Group Holdings (-3.10%), Fresnillo (-2.62%) and Endeavour (-2.60%). On the upside, the strongest performers were Vodafone (5.22%), BP (4.22%) and BT (3.49%).

The FTSE 100 was little changed on Monday as strength in energy stocks and homebuilders offset broad market weakness. Oil companies supported the index after President Donald Trump said the US would reimpose a blockade on Iran and proposed a 20% fee on cargo passing through the Strait of Hormuz, raising concerns over renewed geopolitical risks. Shell gained 2.3% and BP advanced 4.2%. Shell also announced the sale of its Indian renewable energy business, Sprng Energy, to Aditya Birla for $1.8 billion as part of its strategy to refocus on oil and gas assets. Homebuilders also benefited from reports that Andy Burnham could revive a government-backed housing support scheme, with Persimmon rising 2.6% and Barratt Redrow up 1.5%. On the other hand, mining shares were among the biggest decliners, with Fresnillo and Endeavour both down around 2.6%, while banks and pharmaceutical stocks also came under pressure.

The FTSE 100 edged lower on Monday as investors assessed renewed tensions in the Middle East after the US and Iran exchanged fresh airstrikes over the weekend. Tehran claimed it had closed the Strait of Hormuz after targeting US facilities across several Gulf states, although President Donald Trump rejected the assertion, saying the key shipping route remained open to commercial traffic. Energy stocks outperformed as higher oil prices lifted Shell by 1.4% and BP by 2.5%, but gains were offset by broad weakness across the rest of the market. Mining shares came under pressure, with Endeavour down nearly 2%, Fresnillo falling 1.4%, Antofagasta losing 1.8%, and Anglo American slipping 0.8%. Financial stocks also declined, with Standard Chartered and Barclays down around 1%, while HSBC and Lloyds Banking traded lower. Elsewhere, GSK gained 0.9% after reporting positive interim trial results for its cancer drug Jemperli.