The FTSE 100 moved higher on Monday as energy and healthcare stocks supported the index against a backdrop of rising oil prices, higher bond yields and major central bank decisions due this week.
The index was up 0.77% at 10,732.13 points in later trading, while the FTSE 250 fell 0.28% to 23,908.74. The difference reflected stronger demand for large defensive companies and businesses with direct exposure to higher commodity prices.
Energy stocks were among the main contributors. Oil prices rose by around 3% following fresh strikes affecting Saudi Arabian infrastructure and Gulf shipping. Shell gained about 1.2% and BP rose roughly 1.5%, while the wider energy sector advanced 1.1%.
UK bond yields reached new multi-year highs across several maturities. Higher yields can pressure equity valuations and increase financing costs, making companies with stronger cash generation and more resilient earnings more attractive.
Healthcare stocks also performed strongly. Pharmaceutical shares rose 2.7%, helped by GSK, which gained 4.6% after announcing positive results involving two lung cancer drugs, Jideytro and Ris-Rez.
The update gives GSK a clear company-specific catalyst. The next stage will depend on regulatory progress and the commercial potential of the treatments, but the results strengthen the case for continued attention on the group’s drug pipeline.
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