UK stocks experienced an uptick on Monday, with energy stocks leading the surge amid escalating concerns over conflicts in the Middle East.
The region is on high alert for potential violence after Israeli authorities reported that a rocket from Lebanon struck a soccer field in the Israeli-controlled Golan Heights. This tragic incident resulted in the deaths of 12 children and teenagers, marking the deadliest attack on civilians since October 7.
The benchmark FTSE 100 index climbed 64 points, or 0.8%, to 8,350, following a 1.2% rally last Friday.
Oil and gas giants BP Plc and Shell saw notable gains, with BP rising over 2% and Shell adding 1.6%, fueled by fears of an exacerbated conflict in the Middle East.
In contrast, consumer goods company Reckitt Benckiser plummeted nearly 10%. The drop followed concerns about potential litigation after a U.S. jury found that infant formula produced by Abbott Laboratories had led to a girl developing a serious bowel disease.
Meanwhile, pharmaceutical firm GSK rose by 1% after the EU recommended its RSV vaccine, Arexvy, for use in adults aged 50 to 59.
