The FTSE 100 closed higher on Monday, with gains in mining stocks and a sharp rally in Airtel Africa helping the index outperform broader global risk-off sentiment.
The blue-chip FTSE 100 rose 0.36%, while the FTSE 250 slipped 0.18%.
Airtel Africa surged 14.5% to a record high after reports that the board of parent company Bharti Airtel will meet later this week to consider strategic options, including possible consolidation or stake acquisitions involving its subsidiaries.
Mining giants Anglo American and Rio Tinto were also among the top performers, rising 3.9% and 3.3% respectively as commodity-linked shares benefited from stronger metals prices and ongoing geopolitical uncertainty.
Investor sentiment remained cautious as tensions in the Middle East persisted, with hopes for a reopening of the Strait of Hormuz fading after U.S. President Donald Trump rejected Iran’s response to a proposed peace framework. Rising geopolitical risks pushed Brent crude futures up 2.8%, renewing inflation concerns.
Recent data showed UK inflation climbed to 3.3% in March from 3.0% in February, while Andrew Bailey, governor of the Bank of England, warned policymakers face a “difficult judgement call” over potential interest rate increases.
Political uncertainty also remained in focus, with Prime Minister Keir Starmer urging Labour Party members to avoid internal leadership turmoil after heavy local election losses. Analysts at BofA Securities noted that fiscal pressures on the UK government remain elevated regardless of political leadership, particularly as higher oil prices could increase pressure for household support measures.
Among sector moves, metal miners gained 3.6%, while the personal goods sector fell 3%. Meanwhile, Compass Group rose 2.4% after upgrading its 2026 profit outlook, supported by strong workplace dining demand and new contract wins.
