FTSE 100 Climbs as Oil Prices Fall Amid Iran Talks Optimism

The FTSE 100 index climbed 0.8% to close at 10,739.01 on Monday as oil prices fell amid optimism for progress in US-Iran peace talks.

The decline in oil prices was attributed to the possibility of a meeting between Donald Trump and Iranian President Masoud Pezeshkian at the UN General Assembly this week, as well as increased shipments of oil and gas through the Strait of Hormuz.

Brent oil prices fell to 100.28 dollars per barrel in London, down from 104.37 dollars on Friday. This is still above pre-war levels but has a more favorable trajectory, according to AJ Bell's Russ Mould.