The FTSE 100 shook off a weak start to finish higher on Monday, as gains in mining and banking stocks more than offset a sharp sell-off in energy shares. Miners led the rally, with Fresnillo and Antofagasta advancing over 4.5%, supported by firmer gold, silver and copper prices as geopolitical tensions eased. Anglo American added more than 3%, while Rio Tinto rose about 2%.
Banks also posted robust gains, with Lloyds, Barclays and NatWest all climbing more than 2%, and HSBC closing in positive territory. Housing-related stocks received a lift following reports that the Bank of England is weighing an easing of mortgage lending rules by increasing the income multiple cap from 4.5 to five times household income.
By contrast, energy stocks came under pressure. Shell declined about 3% and BP dropped 4.5% as oil prices fell below $100 a barrel. Hopes for renewed US–Iran talks eased fears of further escalation and potential supply disruptions, putting additional downward pressure on crude.
