Energy and Mining Stocks Drive FTSE Gains Amid Economic Forecasts

British stocks rose on Monday, buoyed by energy and mining shares. The FTSE 100 increased by 0.6%, while the mid-cap FTSE 250 saw a 0.2% rise. Shell and Phoenix Group were significant contributors to the gains. The OECD cut UK growth forecasts, expecting slower growth in 2025 and 2026.

In the latest market update, Britain's stocks showed an upward trend on Monday, driven primarily by the performance of energy and mining shares. The FTSE 100 advanced by 0.6%, topping the week's second-straight loss, as investors geared up for major central bank decisions, including from the Bank of England.

Amid rising oil prices, heavyweight Shell boosted the FTSE 100, climbing 1.6%. Mining stocks also surged, with precious metal miners gaining 2.6% as gold prices remained near record levels. The mid-cap FTSE 250 edged up 0.2%, helped by gains in Phoenix Group and Trainline.

Meanwhile, the OECD revised its economic forecasts, projecting slower UK growth in 2025 and 2026 due to global uncertainty. As markets await further clues from upcoming central bank meetings, economic policy decisions remain in sharp focus, both at home and abroad.

(With inputs from agencies.)