FTSE 100 Climbs Amid Energy Gains & Labor Market Calm

The FTSE 100 index rose 0.3% on Monday, driven by gains in energy shares due to rising oil prices and a lighter labor report. Although Shell saw a drop in refining profit margins, energy stocks soared. Precious metal miners faced a downturn, with Endeavour Mining among the biggest losers.

London stocks experienced a modest rise on Monday, with the benchmark FTSE 100 gaining 0.3%. This climb was primarily fueled by the energy sector, notably oil and gas shares, which surged 2% amid escalating oil prices.

Shell, one of the beneficiaries, reported a significant drop in its refining profit margins yet still managed a 2.3% rise. However, precious metal miners endured a rocky session, witnessing their steepest single-day decline in over a month. Bets intensified for a minimal U.S. rate cut following strong job reports.

Elsewhere, BP shifted its energy strategies under CEO Murray Auchincloss, retracting its goal to cut oil and gas output by 2030 to regain favor with investors. Endeavour Mining plunged 5.6% on concerns over its permit in Burkina Faso, making it the biggest FTSE 100 loser.

(With inputs from agencies.)