FTSE 100 Gains In Early Trade; Phoenix Group Shares Surge Over 7%

U.K. stocks started the week on a strong note after seeing sharp losses on Friday.

The benchmark FTSE 100 was up 58 points, or 0.8 percent, at 7,418 after falling 1.3 percent on Friday.

Phoenix Group shares surged 7.4 percent after the insurer lifted its full-year cash generation targets.

Vodafone rose about 1 percent after it partnered with Accenture to commercialize shared operations.

Défense giant BAE Systems added half a percent after raising its sales growth forecast.

Tullow Oil soared 7 percent. The company has entered into a $400 million five-year notes facility agreement with Glencore Energy U.K. Limited.

Drug maker GSK rallied 1.2 percent after receiving positive CHMP opinion for its oral therapy to treat anaemia in patients with a type of bone marrow cancer called myelofibrosis.

Real estate group British Land Company jumped 5.2 percent after posting solid first-half results.