London’s FTSE 100 rose on Monday, helped by gains in heavyweight miners and energy producers that offset weakness elsewhere.
Firmer commodity prices supported the move, even as investors stayed cautious with the Middle East conflict entering its fifth week, Reuters reported.
By 09:21 GMT, the blue-chip index was up 0.6%, while the FTSE 250 fell 0.5%. Both benchmarks were still on track for monthly losses.
Rio Tinto and oil stocks advance
Rio Tinto climbed 3.5%, the biggest boost to the benchmark, after the miner said operations at three of its four Pilbara iron ore port terminals had resumed following Tropical Cyclone Narelle in Western Australia.
Energy stocks rose 1.4% to a record high as crude prices remained elevated. Brent was headed for a record monthly gain, supporting London’s oil and gas names.
Geopolitical risks keep a lid on sentiment
The broader backdrop remained tense.
The Israeli military said Iran launched multiple waves of missiles at Israel, while an attack was also launched from Yemen for only the second time since the US-Israeli war began.
Travel and leisure shares fell 1.1% and were set for double-digit monthly losses as the war raised fuel-cost fears and disrupted key flight routes, threatening profits.
Data and policy in focus
Britain’s finance minister Rachel Reeves will urge G7 counterparts to avoid unilateral steps such as new trade barriers during the war, warning they could worsen energy insecurity and disrupt global supply chains, Reuters reported.
Bank of England data showed mortgage approvals rose by more than expected last month and consumer credit grew faster than in January.
Investors are also watching UK fourth-quarter GDP data and the US March jobs report later this week.
Commodity strength helped the FTSE 100 outperform on the day, but war-related risks and weak travel stocks kept the overall tone cautious ahead of key economic releases.
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