HSBC Holdings Plc and Standard Chartered Plc led U.K. stocks to a fresh record.
HSBC climbed 3.1 percent after after the Sunday Times reported the lender may spin off its U.K. retail bank. Standard Chartered, which has also come under pressure from investors to re-domicile to Asia, increased 4.3 percent. Sports Direct International Plc rose 2 percent as RBC Capital Markets raised its rating on the stock. Retailers fell, with Tesco Plc dropping to its lowest price since January and Marks & Spencer Group Plc losing 1.3 percent.
The FTSE 100 Index advanced 0.5 percent to 7,103.98 at the close of trading in London, reversing earlier losses of as much as 0.6 percent. The gauge climbed 1.1 percent last week.
The FTSE All-Share Index added 0.5 percent on Monday, while Ireland’s ISEQ Index gained 0.8 percent.