FTSE 100 rises 0.4% as energy and defensives lead
The FTSE 100 rose 0.4% on Monday, outperforming other European markets, with oil stocks and defensive names supporting sentiment. Shell and BP rose around 1%, while GSK gained over 4.5% on positive lung-cancer drug data and Legal & General added about 1.3% after launching a £600 million share-buyback tranche.
4% on Monday, outperforming other European markets as gains in oil stocks and the index’s defensive traits supported sentiment. Shell and BP each gained around 1%, while Brent crude moved back towards $107 a barrel after Saudi Arabia closed a major crude pipeline following attacks, disrupting an alternative route to the Strait of Hormuz. A planned meeting between Iran and several Gulf nations on a temporary shipping corridor through Hormuz was also postponed, adding to supply concerns. 5% after positive clinical data for its lung-cancer drug Jideytro.
8% despite a setback for its breast-cancer drug Etcamah, which failed to outperform standard treatment in a late-stage trial. 7% respectively. 3% after launching the second £600 million tranche of its share-buyback programme.