The index as a whole is currently up by 3% in the year to date, albeit off first quarter highs, and is trying to re-establish the strength of its recent performance. 'Indeed, there was a more general feel of a measured return to a risk-on approach, with some strength also seen in the miners and the more recently beleaguered banking stocks. Richard Hunter, head of markets at Interactive Investor, said: 'Markets in the UK opened the new quarter on the front foot, with the spike in the oil price boosting the shares of BP and Shell, in turn adding several points to the FTSE 100 given the size of the index's exposure to the oil and gas sector.

Brent crude rose 5.6% to $84.12 a barrel, while West Texas Intermediate was 5.3% firmer at $79.69.

Over the weekend, OPEC+ unexpectedly announced it would cut output by 1.1m barrels a day from next month, sending oil prices surging. (Sharecast News) - London stocks rose in early trade on Monday, underpinned by surging oil prices.Īt 0820 BST, the FTSE 100 was up 0.6% at 7,676.69.

Qq international 2.11