FTSE 100 climbs as banks and industrials gain on lower oil prices
Lower oil prices lift risk appetite in London trading on Tuesday, helping the FTSE 100 move higher while the midcap FTSE 250 edges lower. The advance is led by banks and aerospace and defence stocks as oil falls to a three-month low after a preliminary U.S.-Iran peace deal.
Highlights
- FTSE 100 rises 0.6% to 10,490.35 by 11:00 GMT, led by a 1.7% gain in banks and a 2.4% jump in aerospace and defence stocks.
- Rolls-Royce surges 2.5% as the top FTSE 100 performer, while HSBC, Barclays, and BAE Systems rise 1.6%, 2.1%, and 2.2% respectively.
- Rathbones plunges 16.6% and SDCL Efficiency Income Trust falls 22% on company-specific news, while oil prices hit a three-month low after a U.S.-Iran peace deal.
Market moves and sector leaders
As reported by Reuters, the blue-chip FTSE 100 advances 0.6% to 10,490.35 points by 11:00 GMT, while the FTSE 250 slips 0.1%. The market tone improves as easing energy prices support broader appetite for risk assets.Heavyweight banks rise 1.7%, with HSBC up 1.6% and Barclays gaining 2.1%. Aerospace and defence stocks lead sector gains with a 2.4% increase, while Rolls-Royce adds 2.5%, making it the top FTSE 100 gainer, and BAE Systems climbs 2.2%.
Oil backdrop and company-specific pressure
Oil prices hit a three-month low and extend losses from the previous session after the U.S. and Iran reach a preliminary peace deal to end their conflict and reopen the Strait of Hormuz, a key global oil shipping route. That drop in crude prices helps support equity sentiment, particularly in sectors tied to the broader economic outlook.Among midcap stocks, Rathbones plunges 16.6% to a one-year low after the wealth manager says it will pause onboarding new clients for 12 months. SDCL Efficiency Income Trust falls 22% after the investment firm proposes winding down the business, while SThree slips 0.5% after reporting a decline in first-half net fees amid weak growth.
In deal-related trading, Associated British Foods slips 1.6% after Britain's competition watchdog clears its acquisition of rival Hovis.
Our earlier article on Rolls-Royce’s Swedish small modular reactor contract explained how the win strengthened investor interest in RR and reinforced its broader expansion in clean baseload energy. We also noted that the stock was trading above key technical levels, with indicators pointing to sustained bullish momentum and a higher likelihood of an upside breakout while support levels held.
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