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The FTSE 100 kicked off the week and the new month positively, rising 27 points in early trading, driven by gains in oil giants BP and Shell, and Asia-focused financials Prudential and Standard Chartered. Positive sentiment in commodities markets and upbeat corporate activity helped in a positive start.
Energy shares generated some of the largest gains. OPEC unveiled plans to suspend production increases between January and March 2026, following a modest boost of 137,000 barrels per day in December.
This decision sparked a rise in oil prices, with Brent crude climbing 0.75% to $65.25 per barrel. BP rose 1.9% to £450.70, supported by strong energy prices. Shell advanced 1.32% to £2,885, contributing heavily to the FTSE 100’s upward momentum.
Financial stocks also bolstered the FTSE 100’s performance. Prudential rose by 1.47% to £1,070.50, while Standard Chartered increased by 1.15% to £1,577.50, due to improved outlook from Asian markets and a general uplift in banking sentiment.
Industrial and software names joined in the rise, with The Sage Group, a software design based in the UK, increasing by 1.17% to 1,163, as investors showed interest and appetite for UK technology, among other service-based consumer sectors.
On the downside, Rio Tinto dropped 1.04% to £5,429, pressured by softer iron ore demand in China. Consumer goods group Reckitt Benckiser fell 0.65%, while Croda International was down 0.87%, mirroring overall weakness in the chemicals and household goods sectors.
M&C Saatchi rejected a £50 million acquisition proposal from Brave Bison for its marketing division, based in Singapore, describing the valuation as inadequate and inconsistent with its long-term development plans.
Intertek Group announced the acquisition of Costa Rica-based Suplilab, a company that specializes in food safety and medical device testing, producing £3.1 million in revenue annually, supporting its presence in Latin America.
Capita has secured a contract continuation with Samsung UK for its customer service operation by integrating an AI-powered “Agent Suite” platform, which will automate routine questions to enhance call handling efficiency.
Wall Street ended higher. The Nasdaq rose 0.6%, the S&P 500 gained 0.3%, and the Dow Jones closed slightly positive, marking six consecutive months of gains for the S&P, its longest winning streak since 2021.
Japan’s Nikkei 225 also had its best month in 35 years, while gold touched $4,023 an ounce and silver extended its six-month winning streak, up 0.5% to $49 an ounce.
