(Sharecast News) - London stocks closed in a mixed state on Monday, with the top-flight index underpinned by a strong showing from energy heavyweights and solid gains in the mining sector, as investors continued to monitor the Russia-Ukraine conflict.
The FTSE 100 ended the session up 0.51% at 7,442.39, while the FTSE 250 fell 0.71% to 21,006.56.

Sterling was in the green, last rising 0.18% on the dollar to $1.3202, and strengthening 0.27% against the euro to €1.1957.

"A recovery for metals prices and further strong gains for oil on the first day of the new week has driven the FTSE 100 higher, bolstered by mining stocks and oil names," said IG chief market analyst Chris Beauchamp.

"The drumbeat of conflict in Ukraine provides a firm foundation for commodity prices to keep moving higher, giving the FTSE 100 a boost even as other indices struggle for direction in early trading."

Beauchamp said markets were relatively quiet after last week's surge, but with a speech from Jerome Powell still on the calendar later in the global day, there was a "sense of powder being kept dry".

"Powell's comments last week about the economy being able to take more rate hikes put a bit of fight into the buyers last week so it will be interesting if he repeats the line."

In geopolitical developments, European Union foreign ministers were planning to discuss a ban on Russian oil imports at their meeting on Thursday, it emerged earlier.

The 27-member bloc imported almost 27% of its crude oil from the Russian Federation last year, making it Moscow's largest export market for oil.

Some EU countries had recently lobbied hard for sanctions over Russia's invasion of Ukraine to be extended to the country's energy sector, especially its exports of oil.

"I think it is unavoidable to start talking about the energy sector and we definitely can talk about oil, because it is the biggest revenue to the Russian budget and also it is quite easily replaceable because of our infrastructure and multiple suppliers," said Lithuania's foreign minister Gabrielius Landsbergis in remarks to Bloomberg.

EU foreign policy chief Josep Borrell confirmed the possibility on Monday, saying ministers would discuss potential sanctions on Russian oil when they next met.

"This is a decision that would hit everyone," said Kremlin spokesperson Dmitry Peskov in response.

"Americans would not lose much and would feel much better than Europeans - Europeans would have it hard."

Turkey's foreign minister, meanwhile, said Russia and Ukraine were nearing agreement on "critical" matters - with a ceasefire "possible" if neither side backtracked.

In an interview with Turkish daily Hurriyet, Mevlut Cavusoglu said that there had been a "rapprochement in the positions of both sides on important subjects, critical subjects".

"We can say we are hopeful for a ceasefire if the sides do not take a step back from the current positions."

Speaking to Al Jazeera, Turkish presidential spokesman Ibrahim Kalin added that the positions of Kyiv and Moscow around Ukraine renouncing NATO membership, demilitarisation, so-called "denazification" and the Russian language were now nearer.

On the economic front, asking prices for UK homes increased at their highest rate in almost two decades in Rightmove's most recent data, as demand vastly outstripped supply and despite soaring inflation.

Asking prices recorded between 13 February and 12 March were 10.4% higher year-on-year, and 1.7% higher than the previous month's reading, making for the biggest monthly jump since 2004.

They had now broken through the £350,000 barrier for the first time, as the average price hit £354,564 in March.

Rightmove said the number of prospective buyers was double the number of homes for sale, a record for the time of year.

"We forecast a less frothy market in the second half of the year, as economic headwinds lead to a more evenly balanced market, though demand will still outstrip supply," it said.

UK retail footfall, meanwhile, rose 2.3% week-on-week last week, as consumers took advantage of warmer weather to make spontaneous trips to shops.

Most of the rise in the week to 19 March was driven by high streets, where footfall rose 4.2%, against a smaller 0.5% increase at shopping centres and 0.1% in retail parks, according to retail consultancy Springboard.

In coastal towns footfall rose 8.5% week-on-week versus just 3.1% in market towns, 4.9% in central London and 4.7% in city centres outside of the capital.

Springboard said the arrival of sunnier days and increased shopper traffic could be "an indication that the flexibility of hybrid home/office working could be enabling consumers to make trips to retail destinations during the working week".

"In coastal towns on Friday, footfall rose by a staggering 40.8% from the previous Friday, versus an average of 24.7% in other town types, and then by 10.7% on Saturday whilst across all other town types it rose by just +2.1% on Saturday," it added.

In equity markets, copper miner Antofagasta jumped 8.08% after agreeing with Barrick Gold and the governments of Pakistan and Balochistan to exit the Reko Diq project.

Other miners were also firmer as metals prices advanced, with Anglo American up 6.12%, Glencore rising 3.82% and Rio Tinto ahead 3.26%.

Energy giants Shell and BP both gushed 4.05% higher as oil prices jumped again - Brent futures were last up 6.24% on ICE at $114.66 per barrel.

Shares in Tullow Oil, Capricorn Energy and Harbour Energy were also higher, rising 9.87%, 3.89% and 2.3%, respectively.

Tullow stock was also boosted by the company's plans to invest $118m (£89.4m) in its two main Ghana fields.

Elsewhere, consumer products giant PZ Cussons ticked 1.05% higher after saying it had bought UK baby and child personal care company Childs Farm for £36.8m.

On the downside, Hargreaves Lansdown fell 2.33% after a downgrade to 'underperform' at Jefferies, while Balfour Beatty was knocked 2.32% lower by a downgrade to 'underweight' at Morgan Stanley.

Transport and travel operators, faced with higher fuel costs, were also lower, with bus and rail company National Express falling 6.99%, budget airline easyJet losing 3.38%, and train ticketing platform Trainline down 4.71%.

Outside the FTSE 350, Pendragon shares surged 22.12% following a report the car dealership rejected a secret £400m takeover approach from its largest shareholder, the Hedin Group.

Market Movers

FTSE 100 (UKX) 7,442.39 0.51%
FTSE 250 (MCX) 21,006.56 -0.71%
techMARK (TASX) 4,342.95 -0.33%

FTSE 100 - Risers

Antofagasta (ANTO) 1,758.50p 8.08%
Anglo American (AAL) 3,910.00p 6.12%
Airtel Africa (AAF) 151.10p 5.66%
Shell (SHEL) 2,020.50p 4.05%
BP (BP.) 375.00p 4.05%
Glencore (GLEN) 497.55p 3.82%
Rio Tinto (RIO) 5,816.00p 3.47%
Smiths Group (SMIN) 1,535.50p 2.54%
BT Group (BT.A) 182.20p 2.39%
Prudential (PRU) 1,089.50p 1.97%

FTSE 100 - Fallers

Ocado Group (OCDO) 1,097.00p -7.74%
Flutter Entertainment (CDI) (FLTR) 9,240.00p -3.67%
Endeavour Mining (EDV) 1,910.00p -3.54%
Entain (ENT) 1,664.00p -3.40%
Intermediate Capital Group (ICP) 1,709.50p -3.09%
Spirax-Sarco Engineering (SPX) 12,695.00p -2.87%
Aveva Group (AVV) 2,541.00p -2.68%
Abrdn (ABDN) 203.70p -2.58%
Hargreaves Lansdown (HL.) 1,048.00p -2.33%
Pearson (PSON) 790.40p -2.18%

FTSE 250 - Risers

Tullow Oil (TLW) 52.44p 9.87%
Telecom Plus (TEP) 1,524.00p 4.38%
Capricorn Energy (CNE) 213.60p 3.89%
Polymetal International (POLY) 125.00p 3.31%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 504.00p 3.17%
Tyman (TYMN) 344.00p 2.99%
Diversified Energy Company (DEC) 115.00p 2.68%
Workspace Group (WKP) 676.50p 2.42%
LXI Reit (LXI) 145.40p 2.39%
HGCapital Trust (HGT) 424.50p 2.29%

FTSE 250 - Fallers

Baltic Classifieds Group (BCG) 130.00p -13.33%
Helios Towers (HTWS) 126.00p -9.09%
XP Power Ltd. (DI) (XPP) 3,635.00p -7.62%
National Express Group (NEX) 223.60p -6.99%
AJ Bell (AJB) 303.60p -5.60%
Fidelity China Special Situations (FCSS) 257.00p -4.81%
Trainline (TRN) 202.40p -4.71%
NB Private Equity Partners Ltd. (NBPE) 1,700.00p -4.49%
Quilter (QLT) 136.85p -4.20%
Auction Technology Group (ATG) 1,050.00p -4.20%