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FTSE 100 Rises Amid Tory Leadership Contest

U.K. stocks rose on Monday as gains in oil prices helped lift energy stocks. As hopes fade for aggressive Fed rate cuts in July, investors now await the outcome of tomorrow's U.K. leadership election for further direction.

The benchmark FTSE 100 was up 32 points or 0.43 percent at 7,541 in opening deals after gaining 0.2 percent on Friday.

Oil major Royal Dutch Shell rose over 1 percent, BP Plc rallied 1.7 percent and Tullow Oil jumped 2.3 percent as oil prices rose over 2 percent on worries that
Iran's seizure of a British tanker last week may lead to supply disruptions in the energy-rich Gulf.

Metro Bank shares advanced 4.7 percent. The troubled high street lender has confirmed media reports that it is in talks "regarding the potential sale of a loan portfolio".

Ted Baker soared 12.5 percent on a report that its founder Ray Kelvin could back a private equity buyout of the retailer, months after he resigned.

Tour operator TUI climbed 3 percent after a "buy" rating from Stifel.

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