March 14 (Reuters) - UK shares rose on Monday as hopes for progress in Russia-Ukraine peace talks lifted sentiment globally, with financials leading the advance on FTSE 100, while Rio Tinto fell after proposing to buy the remaining of Canada's Turquoise Hill.
The blue-chip FTSE 100 index climbed 0.5% in
volatile trade, with banks and insurers
leading the gains.
"If there is a ceasefire, that takes some heat out of commodities and fears of inflation or stagflation, that would be
seen as a positive for economy and banks will be seen as one way
of playing that after a weak spell for their share prices which
has left them trading at discounts to book value," said AJ Bell
investment director Russ Mould.
However, the advance was limited as energy
and mining shares fell 1.6% and 5.0%,
respectively, tracking weaker commodity prices.
Read more