U.K. stocks experienced an upward movement on Monday in anticipation of a significant week, as investors looked towards the U.S. presidential election and upcoming interest rate decisions from both the Federal Reserve and the Bank of England.
The Bank of England is scheduled to convene on Thursday, where a 25-basis-point rate cut is broadly anticipated. Meanwhile, the benchmark FTSE 100 rose by 42 points, equating to a half-percent increase, reaching 8,219, following a 0.8 percent gain noted in its Friday close.
Stocks linked to resources saw an uptick, driven by rising commodity prices. Among the miners, Anglo American, Antofagasta, and Glencore each saw gains ranging from 0.6 percent to 1.2 percent.
Energy titan BP Plc advanced by 1.3 percent, with its competitor Shell climbing by 1.2 percent, spurred by a more than $1 rise in oil prices. This increase followed OPEC+'s decision to defer its plans to boost output by a month.
In the realm of luxury goods, Burberry surged nearly 5 percent after reports emerged suggesting that Italy's Moncler may be exploring a bid for the company.
