London's FTSE 100 opened 39 points higher at 8,366 as miners, oil companies and Bunzl lifted the index after the bank holiday.
Oil prices surged on a shutdown in Libya lifting BP and Shell while BHP’s results overnight boosted the miners.
Bunzl shares meanwhile jumped to a new all-time high after the distributor hiked its interim dividend 10%, launched a £250 million share buyback and raised its outlook for the year. Interim revenues dropped 0.4% to £5.7 billion but it said underlying trends are improving.
Elsewhere, UK shop inflation fell for the first time in nearly three years. Prices in August were down 0.3% from a year ago, the first fall since October 2021, with non-food items the driver, according to the British Retail Consortium (BRC).
More than 3,500 Next shop workers have emerged victorious after a six-year legal battle for equal pay with warehouse staff. It’s a win worth potentially over £30 million in back pay.
Finally, cardboard giant DS Smith has moved one step closer to a £5.8 billion tie-up with International Paper after the US group recommended its shareholders vote for the deal.