FX.co ★ FTSE 100 Edges Up on Monday

On Monday, the FTSE 100 experienced a modest increase of 0.3%, reflecting a global wave of market optimism as concerns over a wider Middle East conflict began to ease. Nevertheless, the UK index lagged behind its European and US counterparts, primarily due to declines in stocks linked to commodities. Large oil companies such as BP and mining firms like Endeavour and Fresnillo saw their shares dip as the prices of oil and gold retreated from earlier highs. In contrast, Entain, a leader in the gambling sector, posted a strong performance, with shares rising by 11% following an upward revision in their BetMGM unit's forecast, helping to mitigate some of the weaknesses. The FTSE 250 benefited from takeover speculation, with notable gains in companies such as Metro Bank and Spectris. However, the real estate sector faced challenges as Rightmove reported a decrease in average UK home asking prices. Looking ahead, investors are keenly anticipating important UK economic data this week, including Wednesday's inflation report, the Bank of England's policy announcement on Thursday, and retail sales figures on Friday.