UKX FTSE 100 Index

By Carla Mozee and Victor Reklaitis, MarketWatch

U.K. benchmark closes at highest level since April 2015

U.K. stocks finished higher Monday, with commodity-related stocks helping to lead the way up as prices for oil and metals jumped.

The FTSE 100 tacked on 0.8% to end at 7,097.50, The benchmark achieved its highest close since April 2015, according to FactSet data.

The benchmark is approaching all-time highs after climbing 2.1% last week, propelled by a continued decline in sterling against the dollar . A lower pound has been aiding the FTSE 100, which is heavily weighted by multinationals, such as miners, that have large overseas sales.

Shares of a number of miners were higher Monday, with Fresnillo PLC (FRES.LN) up 1.2%, Antofagasta PLC (ANTO.LN) gaining 1.6% and Anglo American PLC (AAL.LN) up 2.1%. Closely watched gold prices (http://www.marketwatch.com/story/gold-rallies-after-a-punishing-past-week-regains-key-chart-level-2016-10-10) were up 0.7% on Monday.

Meanwhile, oil futures gained roughly 3% as Russian President Vladimir Putin gave his support (http://www.marketwatch.com/story/putin-signals-russia-might-move-to-freeze-or-cut-output-2016-10-10) to international efforts to limit oil supply, and as Saudi Arabia's energy minister Khalid al-Falih said that he was optimistic (http://www.marketwatch.com/story/not-unthinkable-for-oil-to-hit-60-this-year-says-saudi-energy-minister-2016-10-10) major oil producers could agree to cut production.

Big players in the oil industry have a habit of not respecting agreements, "but for now, traders are loving the news," said Naeem Aslam, chief market analyst at ThinkMarkets UK, in a note.

Oil majors Royal Dutch Shell PLC (RDSB.LN) and BP PLC (BP.LN) finished 2.8% and 1.7% higher, respectively.

The pound moved lower again on Monday, buying $1.2390 compared with around $1.2438 late Friday. Sterling slumped as Reuters reported the British government said holding a second vote in parliament on the U.K.'s exit from the European Union would not be acceptable (http://uk.reuters.com/article/uk-britain-eu-parliament-idUKKCN12A177?il=0).

On the downside, EasyJet PLC (EZJ.LN) was one of the FTSE 100's big losers, falling 2.3%. The budget airline last week warned that the pound's slide since the June Brexit vote is eating into its earnings.

Also heading lower was Royal Bank of Scotland PLC (RBS.LN) (RBS.LN) . Shares were down 1.8% following reports by the BBC and Buzzfeed News (http://www.bbc.co.uk/news/uk-37591335) that the bank tried to profit from businesses it claimed it was helping. RBS denied it deliberately pushed businesses to fail.

Among midcaps, William Hill PLC (WMH.LN) climbed 2.8% after news the bookmaker is in talks about an all-stock merger of equals with Amaya Inc ().(AYA.T) , a Montreal-based gaming technology company.

The midcap FTSE 250 shed 0.1% to end at 17,978.90.

(END) Dow Jones Newswires

October 10, 2016 12:06 ET (16:06 GMT)

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