The FTSE 100 in the UK exhibited minimal movement on Monday, as a surge in oil prices provided support to energy stocks, counterbalancing declines in financial shares. Meanwhile, investors were evaluating the implications of renewed military exchanges between the U.S. and Iran.

The blue-chip FTSE 100 index rose 0.03% to 10499.88 points by 0927, while the midcap FTSE 250 slipped 0.1%.

• Escalating tensions between Washington and Tehran have heightened concerns regarding the sustainability of the agreement established last month, which aimed to ensure the flow of traffic through the Strait of Hormuz and promote ongoing discussions.
• Iran’s Revolutionary Guards announced on Monday that they had conducted operations against U.S. military facilities in Bahrain and Kuwait, successfully destroying radar systems in Oman, and targeting fuel tanks and ammunition depots at Prince Hassan Air Base in Jordan as a response to U.S. strikes.
• Oil prices rose over 3%, sending energy stocks up 1.1%.
• Conversely, investment banks and brokerages were the worst performing sector, following Plus500, which experienced a decline of 14.3%, placing it at the bottom of the midcap index after the fintech broker maintained its annual forecast.
• Precious metal miners experienced a decline of 0.6% following a drop in gold prices exceeding 1%, driven by inflationary concerns and heightened expectations regarding the U.S. Federal Reserve’s commitment to maintaining elevated interest rates for an extended period.
• Endeavour Mining, Fresnillo, and Hochschild Mining fell around 0.6% each.
• Among individual stocks, Vodafone topped the FTSE 100 with a 4.6% gain, extending Friday’s rally, after French billionaire Xavier Niel announced plans to acquire a nearly $6 billion stake in the telecoms group from UAE’s e&.