UK indexes rise with banks driving gains as oil prices fall

FTSE Futures Updates

London shares experienced an uptick on Monday, driven primarily by gains in bank stocks, as global risk appetite improved following a retreat in oil prices amid optimistic expectations for diplomatic advancements in the Middle East.

After falling nearly 1.5% during the previous session, the blue-chip FTSE 100 index, opens new tab, rose 0.73% to 10,737.66 points by 0932. The midcap FTSE 250 climbed 0.69%.

  • Heavyweight banks were among the top gainers, with HSBC climbing 1.6%, Barclays rising 2.3%, and Standard Chartered gaining 2.1%.
  • Industrial miners rose 1.8% as copper prices edged up over optimism regarding resilient Chinese demand. Antofagasta and Anglo American jumped about 3.4%.
  • Oil prices declined to their lowest level in over a week, fuelled by optimism regarding potential diplomatic advancements related to the US-Iran conflict, coinciding with this week’s UN meeting. Oil majors BP and Shell dipped near 1% each.
  • Falling crude prices have positively impacted travel-related companies, as evidenced by airline operator IAG rising more than 1%.
  • Homebuilder Barratt Redrow slipped 2.1% after broking Peel Hunt downgraded the stock to “hold” from “add”.
  • Healthcare investment firm Syncona opened new tab, leaping 5.7% after its portfolio company Beacon
  • Therapeutics’ Phase II/III VISTA trial met the US FDA-endorsed primary endpoint for gene therapy laru-zova.
  • Craneware opens new tab plummeted 23% after the healthcare financial software firm cut its full-year revenue outlook.
  • Investor attention is directed toward the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping, as participants look for insights into trade relations and the economic outlook.
  • “Hopes of ​improved relations ⁠between the world’s two largest economies were boosted by U.S. Treasury Secretary Scott Bessent describing weekend discussions with Chinese officials as successful,” Russ Mould ​said.
  • British government bond yields have softened following a rise last week, while the pound experienced a 0.1% decline a week after the Bank of England maintained interest rates at their current level.