Among the other stocks making gains over the day were Permanent TSB, which added 3.75 per cent, and AIB, which rose just under 1 per cent.Retailers including Tesco and Sainsbury’s continued their strong rebound after the government confirmed plans to freeze energy bills for households, boosting consumer spending power over the coming months. The FTSE 100 increased to its highest level so far this month as a result, ending the day up 121,96 points, or 1.66 per cent, at 7,473.03.
Wagamama owner The Restaurant Group finished in the red on Monday after brokers at Liberum cut their target price for the stock. Shares moved 0.5p lower to 46p.European shares hit a two-week high on Monday on hopes of some easing in energy prices and banks rallied to near four-week highs on bets of more jumbo-sized interest rate hikes in Europe.
Swiss Re rose 2.6 per cent as it said global geopolitical tensions, macroeconomic developments and climate change have heightened demand for risk protection and will lead to increased premiumsEnergy and technology shares powered US stock indexes to their highest in more than two weeks on Monday ahead of a crucial inflation reading this week that could determine the pace of interest rate hikes by the Federal Reserve.