Defensive shares prop up UK's FTSE 100

Britain's main stock index edged higher on Monday, boosted by defensive stocks such as AstraZeneca and Unilever, as talks of more sanctions against Russia kept risk appetite in check. Home improvement retailer Kingfisher rose 2.6% after Deutsche Bank upgraded the stock to "buy" from "hold", citing cheap valuation and better earnings resilience. Ireland's Ryanair inched 0.3% lower even as Europe's largest low-cost carrier narrowed the range for its forecast annual loss.

Britain's main stock index edged higher on Monday, boosted by defensive stocks such as AstraZeneca and Unilever, as talks of more sanctions against Russia kept risk appetite in check. The blue-chip FTSE 100 rose 0.1% by 0713 GMT, after kicking off the second quarter on Friday with modest gains. The domestically focussed mid-cap index added 0.3%.

AstraZeneca climbed 0.8%, while precious metal miners and defence stocks were the top sectoral gainers, rising more than 1.5% each. Home improvement retailer Kingfisher rose 2.6% after Deutsche Bank upgraded the stock to "buy" from "hold", citing cheap valuation and better earnings resilience.

Ireland's Ryanair inched 0.3% lower even as Europe's largest low-cost carrier narrowed the range for its forecast annual loss.