The FTSE 100 Index Opens 0.53% Higher

The FTSE 100 Index is picking up 56 points or 0.53 percent on Monday. Gains are led by HSBC Holdings (2.13%), Standard Chartered (1.89%) and Standard Life (1.71%). Biggest losers are Informa (-2.50%), Vodafone (-1.56%) and BP (-0.85%).

The FTSE 100 traded more than 0.5% higher on Monday, following a 1.1% rise in the previous session, in line with broader European markets as oil prices continued to retreat. Investors balanced relatively resilient Middle Eastern supply flows against escalating regional tensions and a US claim that Russia and Ukraine had agreed to an energy ceasefire. Banking stocks led the advance, with HSBC and Standard Chartered gaining nearly 2%, while Lloyds Banking Group and NatWest each rose more than 1%. AstraZeneca also climbed over 0.5%, despite reporting that its experimental treatment efzimfotase alfa failed to meet statistical significance in a late-stage trial involving adolescents and adults with hypophosphatasia, a rare bone and muscle disorder. However, the head of the company’s Alexion rare-disease division maintained that the drug could still secure regulatory approval. Energy majors BP and Shell lagged behind the broader market as lower crude prices weighed on their shares.

The FTSE 100 Index went up by 117 points or 1.12 percent on Friday to close at 10558 points. The rise was led by Relx (4.82%), Antofagasta (4.58%) and The Sage Group (4.14%).