The FTSE 100 Index Closes 0.75% Higher

The FTSE 100 Index went up by 80 points or 0.75 percent on Monday to close at 10739 points. The rise was led by Metlen Energy & Metals (4.16%), Marks & Spencer (3.72%) and Rolls-Royce (3.54%). On the downside, the weakerst performers were BP (-2.91%), Glencore (-2.27%) and Fresnillo (-1.78%).

The FTSE 100 rose 0.8% on Monday, recovering from a 1.5% decline on Friday as falling oil prices eased concerns over persistent inflation and improved global risk appetite. Oil extended its losses into a fourth session on hopes of diplomatic progress in the Middle East ahead of this week’s UN meeting. Banks led the gains, with HSBC up 1.7%, Barclays 1.8%, Lloyds Banking Group 1.1%, NatWest 1.5% and Standard Chartered 1.8%. Mining stocks also advanced as copper prices gained on expectations of tighter supply and signs of resilient Chinese demand, with Antofagasta rising 3.5% and Anglo American 2.6%. JD Sports climbed 0.8% after announcing a long-term franchise partnership with Mexico’s Grupo Axo, marking its first entry into the Mexican market. In contrast, oil majors declined as crude prices fell to their lowest level in recent weeks, with BP down 3% and Shell losing 1.3%.

The FTSE 100 Index is picking up 51 points or 0.48 percent on Monday. Gains are led by Antofagasta (2.60%), Anglo American (2.50%) and Standard Chartered (2.50%). Biggest losers are BP (-1.74%), J Sainsbury (-1.06%) and Barratt Redrow (-0.98%).