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FTSE 100 up 0.3%, FTSE 250 gains 0.5%

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Entain ( GMVHF ) gains after BetMGM raises annual forecast

(Updates to closing prices)

June 16 (Reuters) - London's benchmark FTSE 100 rose on

Monday, coming within spitting distance of a record high, after

global risk appetite was boosted by reports Iran was seeking a

truce with Israel.

The blue-chip FTSE 100 closed up 0.3% at

8,875.22 points, and came within a couple of points of its

intraday record high of 8,908.74 points on March 3.

The midcap FTSE 250 gained 0.5%.

Ladbrokes owner Entain ( GMVHF ) jumped 15.3%, the stock's

biggest percentage gain since September 2021, after its U.S.

sports-betting joint venture, BetMGM, raised its annual revenue

and core earnings forecast.

The travel and leisure subindex surged 3.3%.

U.S. stock indexes rebounded sharply as reports said Iran is

seeking an end to hostilities with Israel, raising the

possibility of a truce and easing fears of a disruption to crude

supplies from the region.

Oil prices surged over 7% on Friday and global stocks

tumbled after Israel began bombing Iran, fuelling fears of a

major disruption to energy infrastructure.

Focus this week will shift to monetary policy meetings

of the Bank of England and the U.S. Federal Reserve, with both

expected to keep interest rates on hold.

After the BoE eased rates in May, investors will look

for hints on whether a slowing economy and weaker wage growth

could speed up the pace of easing.

"The risks are skewed towards a more dovish voting

split," Shaan Raithatha, senior economist in Vanguard's

Investment Strategy Group said, expecting BoE policymakers Swati

Dhingra and Alan Taylor to dissent and vote for a cut.

In London, Metro Bank Holdings ( MTRBF ) hit a more than

two-year high and led gains on the midcap index after a report

of takeover approach from private equity firm Pollen Street

Capital. Shares of the British lender were up 18.4%.

The precious metal miners' subindex fell the

most among sectors, down 3%, tracking lower gold prices.

In the backdrop of geopolitical worries and global

economic uncertainties, leaders from the

Group of Seven

nations begin annual talks on Monday in Canada. The summit

is seen as a vital moment to try and restore a semblance of

unity between democratic power houses.