BRUSSELS (dpa-AFX) - After a weak start, the UK stock market's benchmark index FTSE 100 edged above the flat line Monday morning.
Rising U.S.-Iran tensions, and concerns on the political front bank home rendered the mood cautions. U.S. President Donald Trump has warned Iran the 'clock is ticking' and there won't be anything left of Iran unless it agrees to a deal.
For its part, Iran issued a stark warning to Washington, with senior figure Mohsen Rezaei cautioning that escalating military pressure could turn the Sea of Oman into a 'graveyard' for U.S. vessels.
Concerns about inflation and possible rate hikes weigh on sentiment. Brent crude futures rose to $112 a barrel before easing to $110.19, still up by about 0.9% from previous close.
On the home front, there is speculation that Andy Burnham could enter the race to challenge Prime Minister Keir Starmer.
The FTSE 100, which slipped to 10,137.50 earlier, climbed to 10,228.47 before easing to 10,209.88, up 14.51 or 0.14% from previous close.
Energy stocks BP and Shell gained 2.5% and 2.1%, respectively, thanks to higher crude oil prices.
Centrica climbed 2.3% and National Grid moved up 2.1%. Imperial Brands, Admiral Group, IG Group Holdings, British American Tobacco, SSE, Tesco, Aviva, Severn Trent, Bunzl and BT Group gained 1%-2%.
3i Group dropped by about 6.5%. Entain, Barratt Redrow, Airtel Africa, Persimmon, Berkeley Group Holdings, Burberry Group, Mondi, Weir Group, Howden Joinery Group and Rolls-Royce Holdings lost 1%-2.3%.
Insurer Prudential shed about 1% after announcing the acquisition of a 75% stake in Bharti Life Insurance.
Anglo American dropped 1.2%. The mining giant has agreed to sell its coal mining operation in Australia to privately-owned Dhilmar for $3.88bn.
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