FTSE 100 rises led by Phoenix Group amid mixed market moves

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FTSE 100 rises led by Phoenix Group amid mixed market moves

The FTSE 100 Index closed Monday with a notable gain, rising 0.89% to finish at 7,425.83, buoyed primarily by a significant leap in the share price of Phoenix Group Holdings PLC, which surged 5.67%. The uptick in the index was further supported by advances in several other major companies.

Rolls-Royce (OTC: RYCEY ) Holdings PLC, Melrose Industries PLC, Smith & Nephew (LON: SN ) PLC, and British American Tobacco (NYSE: BTI ) PLC were among the prominent performers, with their shares climbing by 3.53%, 2.99%, 2.68%, and 2.64% respectively. This collective upward momentum contributed substantially to the day's positive market sentiment.

On the flip side, not all constituents of the index experienced the same fortune. Entain PLC stood out as the most pronounced decliner, with its stock value receding by 3.67%. Other firms such as Experian (OTC: EXPGF ) PLC, Informa PLC, London Stock Exchange Group (LON: LSEG ) PLC, and International Distribution Services PLC also faced downward pressure, witnessing stock depreciations of 1.57%, 1.38%, 1.24%, and 1.08% respectively.

In currency markets, the British pound showcased strength against major counterparts, appreciating by 0.33% against the dollar and 0.20% versus the euro. This movement in currency valuations occurred amidst broader market movements that also saw Brent crude oil prices increase by 1.5% to reach $82.68.

Additionally, there was a notable shift in government debt securities, with the yield on the UK's benchmark 10-year gilt experiencing a decline of nearly one basis point to settle at 4.322%.

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