BRUSSELS (dpa-AFX) - The U.K. stock market gained moderate ground in positive territory on Monday, supported by gains in bank, mining and technology stocks.
Slightly easing concerns about inflation amid a notable drop in oil prices helped underpin sentiment.
Brent crude front-month futures slipped to $109.22 a barrel before recovering to around $109.90, still down as much as 1.6% from previous close.
Oil prices fell sharply amid reports of diplomatic efforts to reduce tensions in West Asia. A Qatari delegation arrived in Tehran on Sunday as part of renewed diplomatic efforts to de-escalate reginal tensions in coordination with the United States.
The benchmark FTSE 100 was up 45.94 points or 0.43% at 10,736.30 about half an hour past noon.
Computacenter soared nearly 10%. The technology and services provider has lifted its full-year guidance after reporting stronger-than-expected third-quarter results. The company said that it now expects FY26 adjusted pre-tax profits of no less than £425 million, compared with current analyst consensus of £387.1 million.
Babcock International surged 4%. Intercontinental Hotels Group, Melrose Industries, Kingfisher and IAG moved up 3.3%-3.5%.
JD Sports Fashion, Antofagasta, 3i Group, Diploma, Rolls-Royce Holdings, IMI, Lion Finance and Barclays gained 2%-3%.
BAE Systems, WPP, Fresnillo, Natwest Group, Balfour Beatty, Games Workshop, Weir, Informa, Burberry Group, Anglo American Plc, Investec, Standard Chartered, St. James's Place, Smiths Group, Lloyds Banking Group and Tritax Bag REIT gained 1.3%-2%.
Man Group shares jumped 4%. The U.K. investment management company announced an expanded strategic partnership with Japan-based Meiji Yasuda Life Insurance.
Energy stocks BP, Shell and Ithaca dropped 2.3%, 1.7% and 0.7%, respectively, weighed down by weak oil prices.
Experian shed 2.2%, while SSE lost 1.6%. Smith & Nephew, Centrica, Coca-Cola HBC and The Sage Group posted modest losses.
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