FX.co ★ FTSE 100 Flat as Energy, Mining Gains Offset Banks

The FTSE 100 was little changed on Monday in a subdued start for European markets, though it modestly outperformed its peers, supported by strength in mining and energy shares. Sentiment remained cautious as investors weighed the risk of a further escalation in the Iran conflict.

Higher oil prices underpinned gains in the energy sector, with BP and Shell both up around 0.9%. Miners also advanced, led by Rio Tinto, which climbed more than 3%, while Glencore added nearly 1%.

In contrast, banking stocks were weaker. HSBC slipped 1%, Lloyds fell 0.5%, Barclays was down 0.7% and NatWest declined 0.6%. Travel and leisure names also lagged the broader market, with EasyJet and InterContinental Hotels each losing about 1.5%.

Elsewhere, GSK reported that its hepatitis B treatment, bepirovirsen, has been accepted for regulatory review in China. The company’s shares were little changed following the announcement.