FTSE 100 experienced its fifth consecutive gain, driven by an uptick in oil prices that bolstered energy stocks. Additionally, SSP saw a significant rise following optimistic projections regarding the performance of its continental European operations. The blue-chip FTSE 100 rose 0.56%, hovering near a six-week high touched in the previous session. The midcap FTSE 250 climbed 0.60% to its highest level since October 30.

Shares of oil giants Shell and BP rose about 1.6% and 1.8% respectively as crude prices nudged higher ahead of a meeting later this week of the OPEC+ producer group. Global stocks experienced a modest increase as investors considered an unexpected declaration of martial law by South Korean President Yoon Suk Yeol, while also anticipating U.S. economic data for insights into the trajectory of interest rates.

In the interim, British retailers disclosed underwhelming sales figures for November, as per industry data that, despite being influenced by the timing of Black Friday sales, nonetheless indicated a decline in consumer confidence.
The Bank of England is anticipated to maintain interest rates in December, reflecting apprehensions regarding a resurgence of inflation, as indicated by economists. Boosting the midcap index, SSP Group opens new tab rose 9.6% as the company, which runs cafes, bars and restaurants in train stations and airports in nearly 40 countries, stated its intention to double the operating profit margin at its continental European business.

British budget airline easyJet experienced a 3.3% increase as several brokerages adjusted their target price for the stock upward. Marston’s opens new tab jumped 8% after the pub group said its Christmas bookings were running ahead of last year, following a 64.5% jump in annual profit. British American Tobacco and Imperial Brands fell 1.8% and 1% respectively, following a report indicating that the Indian government intends to increase the goods and services tax on cigarettes, tobacco, and aerated beverages.