UK Shares Nudge Higher Amid Energy Gains and Consumer Staple Losses

UK shares rose on Monday, driven by gains in energy and bank stocks, while consumer staples and healthcare limited overall progress. The FTSE 100 was up 0.2%, with energy stocks climbing 1.3% after oil price increases. On the downside, healthcare and consumer staples saw declines.

UK shares made modest gains on Monday, buoyed by energy and banking sectors, though they were tempered by losses in consumer staples and healthcare stocks.

The FTSE 100 climbed 0.2% by mid-morning, with energy stocks contributing a 1.3% rise following a 1.9% increase in crude oil prices, spurred by the threat of new sanctions on Russian oil.

Despite the energy boost, healthcare stocks and consumer staples saw declines, with Unilever and AstraZeneca among the day's worst performers. Meanwhile, British employers reported the lowest pay settlements in years, reflecting concerns over potential tax hikes in the forthcoming budget.

(With inputs from agencies.)