The FTSE 100 Index Closes 0.22% Higher

The FTSE 100 Index rose 23 points or 0.22 percent on Monday to close at 10485 points. Leading the gains are Ithaca Energy (2.79%), Standard Chartered (2.76%) and Anglo American (2.03%). Top losers were 3i (-6.03%), IG Group Holdings (-3.43%) and Barratt Redrow (-2.77%).

The FTSE 100 gained 0.3% on Monday, extending its advance to a second consecutive session. HSBC rose 1%, while Barclays added 0.5% and Standard Chartered climbed 2.8%. Oil majors also moved higher, with Shell and BP gaining 0.8% and 1%, respectively, while Rio Tinto and Glencore advanced 1.3% and 1.6%. Ithaca Energy was among the strongest performers, rising 2.8% after agreeing with Suncor to acquire a portfolio of conventional offshore oil assets in shallow waters off Newfoundland and Labrador for up to $1.1 billion. BT Group added 1.6% after completing its acquisition of TalkTalk out of administration on a debt-free basis. Gains were limited by weakness elsewhere, however, with 3i falling 6%. Healthcare stocks also underperformed, as AstraZeneca and GSK both declined by more than 1%.

The UK's FTSE 100 rose 0.3% to around 10,490 on Monday, supported by the oil & gas, telecom and mining stocks. Shares in Ithaca Energy rose 2.8% to the top of the index after agreeing with Suncor to buy a portfolio of conventional offshore oil assets located in shallow waters off the East Coast of Newfoundland and Labrador, Canada, for up to $1.1 billion. Metlen Energy & Metals gained 1.7% on a long-term gallium supply deal with a Japanese chemical company, covering up to 16% of production from its new facility in Greece. BT Group rose 1.6% following its acquisition of TalkTalk out of administration on a debt-free basis, while National Grid advanced nearly 1% after raising its annual earnings growth outlook.