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FTSE 100 Gains Led By Energy Stocks
(RTTNews) - U.K. stocks rose on Monday, with oil heavyweights rallying as a surprise announcement by OPEC+ and its allies to cut production lifted crude prices up more than 5 percent. In economic releases, the March final manufacturing was finalized at 47.9, down from February's 7-month of 49.3.
The benchmark FTSE 100 was up 60 points, or 0.8 percent, at 7,692 after closing 0.2 percent higher on Friday.
BP Plc and Shell both jumped over 4 percent while airline IAG fell more than 1 percent.
Ailing cinema chain Cineworld Group plunged 30 percent after announcing a debt restructuring with its biggest lenders.
Banks Barclays and Lloyds Banking traded up more than 2 percent each.
Imperial Brands advanced 1.6 percent. The tobacco firm said it has instructed Barclays Capital Securities to purchase up to 500 million pounds of its shares as part of the second tranche of its share buyback drive of up to 1 billion pounds announced in 2022.
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