FTSE 100 up 0.7, FTSE 250 up 0.5
British PMI data due Tuesday
Burberry jumps on report of Moncler considering bid

Nov 4 Reuters London39;s main stock indexes rose on Monday, powered by energy stocks, while all eyes are on the U.S. presidential election and a potential rate cut by the Bank of England BoE later this week.

The bluechip FTSE 100 was up 0.7 at 8,235.71 points by 1111 GMT, while the midcap FTSE 250 ticked 0.5 higher.

The heavyweight oil and gas sector rose 1.5 as oil prices jumped more than 2 after a decision by OPEC to delay increasing output by a month.

The personal goods sector led sectoral gains, driven by an 4.8 jump in Burberry after a report said that Moncler was considering a bid for the luxury retailer.

The banking sector rose 1.5, adding to early gains.

In contrast, precious metal miners led sectoral declines, losing 0.5.

Both the FTSE 100 and FTSE 250 indexes logged weekly declines on Friday after the country39;s budget raised concerns about inflation pressures building again.

The BoE meets on Thursday to take a call on interest rates. Markets maintained their expectations for a 25basispoint rate cut by the central bank. 0BOEWATCH

In terms of economic data, investors will look out for British PMI data for October, due on Tuesday, while data on housing prices is expected on Thursday.

Meanwhile, investor sentiment will be primarily dictated by the U.S. presidential election. Democrat Kamala Harris and Republican candidate Donald Trump…