22.06.202615:52:36UTC+00FTSE 100 Rises on Monday

The FTSE 100 climbed more than 0.5% on Monday, outperforming other major European indices as gains in banking and mining stocks drove the advance. Investors continued to weigh the political implications of UK Prime Minister Keir Starmer’s resignation, which has sharpened focus on Andy Burnham’s potential leadership bid and the policy stance he might adopt if he takes over.

Banking shares were among the strongest performers, with HSBC up 1.5%, while Lloyds Banking Group, Barclays, NatWest and Standard Chartered added between 1.7% and 3.8%. Miners also lent support: Rio Tinto rose 1.4%, Glencore, Anglo American and Antofagasta gained roughly 0.3% to 1.1%, and Fresnillo advanced 3%.

In the travel sector, easyJet rose 2.5% after it rejected several takeover proposals from Castlelake, prompting the investor to take its £4.74 billion offer directly to shareholders. By contrast, Babcock dropped 5.9% following a reported decline in pretax profit.