Financials pull FTSE 100 higher, energy stocks fall on China worries – Reuters.com

Financials pull FTSE 100 higher, energy stocks fall on China worries – Reuters.com

March 28 (Reuters) - London's FTSE 100 edged higher on Monday, boosted by financials, although gains were capped by energy stocks as oil prices fell on China demand worries and hopes of progress in Russia-Ukraine peace talks.

The blue-chip index (.FTSE) rose 0.2%, led by gains in life insurers (.FTNMX303010) and homebuilders (.FTNMX402020).

Oil majors BP Plc (BP.L) and Shell Plc (SHEL.L) fell 0.5% each as oil prices dropped more than $3 after China's Shanghai entered a lockdown to contain a surge in COVID-19 infections, raising concerns about demand in the world's largest crude importer.