The UK’s FTSE 100 rose on Monday, extending gains for a seventh straight session, with miners and oil heavyweights boosting the resource-rich index, while shares of Network International surged on a buyout offer.
The blue-chip FTSE 100 rose 0.5%, while the mid-cap FTSE 250 added 0.6%, as of 0712 GMT.
Energy stocks added 1.2% as crude prices rose on OPEC+’s plans to cut more output and as markets eyed Chinese economic data for signs of demand recovery.
Adding to gains, metal miners rose 1.8% as tin prices jumped to their highest in nearly two months amid talks of a potential ban on mining in major ore producer Myanmar.
FTSE 100 ends higher on bank boost; Dechra shines
Among individual stocks, Network International soared 21.3% after the payments provider received a takeover proposal from a consortium of CVC Capital and Francisco Partners.
John Wood Group added 7.2% after the company decided to engage with Apollo Management for a firm offer for a final buyout price of 240 pence per share.
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