08.09.202515:38:20UTC+00FTSE 100 Starts Week Higher

The FTSE 100 experienced a slight uptick on Monday, regaining traction after last week's rally diminished by Friday. Vistry, a homebuilding company, saw its shares increase by more than 3.5% following its announcement of a long-term collaboration with Homes England. Additionally, Marks & Spencer's stock rose by over 3% after Citigroup issued an upgrade, highlighting that investors might be underestimating the company's strengths and should move past the recent cyberattack. Oil giants Shell and BP also made gains, each advancing over 0.5% as crude oil prices rose on the back of OPEC+'s modest production increase. Conversely, Phoenix Group's shares dropped nearly 7%, notwithstanding its report of improved profits, due to its announcement of rebranding to Standard Life. In the broader economic landscape, wage growth for new hires in the UK has decelerated to its slowest rate in over four years, indicating a more subdued labor market and reducing inflationary pressure. Meanwhile, French Prime Minister Francois Bayrou is anticipated to face a loss in a confidence vote.