Neutral
FTSE 100 rises 0.34% to 10,497.94 as mining and energy stocks lead gains.
The FTSE 100 index closed higher on Monday, recovering from its steepest drop since April. Gains were driven by mining and energy sectors, while concerns over rising fuel prices and potential interest rate hikes capped further upside.
Key points
- Mining shares rose 1.65%, with Ithaca Energy leading gains after announcing an $842 million acquisition of Suncor Energy's offshore oil assets.
- Brent crude futures dipped 0.44% to $101.83 a barrel, as increased Middle East exports and G7 pledges to boost supplies kept prices in check.
- A survey showed British services firms reported stronger cost pressures last month due to surging fuel prices, raising concerns about inflation and potential interest rate hikes.
Sources
AI-generated from public news sources. Not financial advice.
