London Stock Surge Amidst BoE Speculations and U.S. Election Focus

London's stock indexes gained as energy and banking stocks propelled the FTSE 100 and FTSE 250 upwards, influenced by OPEC+ decisions, BoE rate cut anticipation, and the U.S. presidential race. Concerns linger over inflation from the latest UK budget, with economic indicators and election outcomes closely watched.

On Monday, London's major stock indexes experienced an uptick, buoyed by energy stocks, as investors kept a keen eye on the U.S. presidential election and a potential rate cut from the Bank of England (BoE) expected later in the week.

The blue-chip FTSE 100 rose by 0.7% to 8,235.71 points, while the mid-cap FTSE 250 inched 0.5% higher. The oil and gas sector saw a notable increase of 1.5% following an OPEC+ decision to delay output increases, leading to a 2% rise in oil prices.

Meanwhile, the personal goods sector also climbed, highlighted by a 4.8% jump in Burberry shares on speculation of a potential Moncler bid. Despite the gains, both the FTSE 100 and FTSE 250 logged declines the previous week amid renewed inflation concerns stemming from the country's budget.

(With inputs from agencies.)