The FTSE 100 has risen around 0.8% on Monday morning, even as oil prices continued to climb amid the ongoing Middle East conflict.
The mid-cap FTSE 250 slipped 0.4%. Elsewhere in Europe, Germany’s DAX was unchanged, while France’s CAC 40 gained 0.4%.
Energy stocks have so far supported the FTSE 100, with Shell up 1.6% and BP rising 1.4% as crude prices moved higher again.
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Strength in commodities has also lifted mining stocks, with spot gold up 0.9% at $4,535 and silver advancing 1.6% to $70.86. Aluminium prices have surged around 5%, further boosting the sector.
Among the top FTSE 100 performers are Rio Tinto, up 3.5%, Burberry, gaining 2.3%, and Glencore, up 1.8%. The biggest fallers included Prudential and 3i Group, both down 1.5%, while IAG has declined 1.4%.
In corporate news, GSK announced progress in China, where regulators accepted a new drug application for its hepatitis B treatment bepirovirsen. The country’s National Medical Products Administration also approved Exdensur (depemokimab) for severe eosinophilic asthma in patients aged 12 and above.
Outside the FTSE 100, shares in Debenhams Group, part of Boohoo Group, traded higher after reporting adjusted EBITDA of £53 million for FY26, a 36% year-on-year increase. The company also upgraded its FY27 outlook, forecasting double-digit EBITDA growth following a strong second half.
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