The FTSE 100 traded more than 0.5% higher on Monday, outperforming other European markets as gains in oil stocks and the index’s defensive characteristics supported sentiment. Shell and BP each rose around 1%, with Brent crude moving back towards $108 a barrel after Saudi Arabia closed a major crude pipeline following attacks, disrupting an alternative route to the Strait of Hormuz. A planned meeting between Iran and several Gulf nations on establishing a temporary shipping corridor through Hormuz was also postponed, adding to supply concerns. GSK gained more than 2.5% after positive clinical data for its lung-cancer drug Jideytro, while Legal & General rose around 1.5% after launching the second GBP 600 million tranche of its share-buyback programme. AstraZeneca advanced around 1.8% despite a setback for its breast-cancer drug Etcamah, which failed to outperform standard treatment in a late-stage trial.