FTSE 100 steady as energy lifts, miners slip
The FTSE 100 was little changed as BP and Shell rose 1.8% and 1.4% on higher crude, offset by precious-metals miners falling with gold prices after US-Iran ceasefire hopes faded.
The FTSE 100 was little changed on Tuesday, outperforming other European markets as gains in energy stocks offset weakness among precious-metals miners.
BP and Shell rose 1.8% and 1.4%, respectively, supported by higher crude prices as hopes for a lasting US-Iran peace agreement faded.
Iran indicated it could adopt a more aggressive military stance after negotiations stalled, while Washington ruled out extending the temporary ceasefire, adding to geopolitical uncertainty.
Lower gold prices weighed on mining stocks, with Fresnillo falling around 1.2% and Endeavour Mining declining 1.8%.
Meanwhile, UK labour market data showed unemployment holding at 4.9% in the three months to June, slightly above the 4.8% expected.
Payroll employment increased by 83,000, well below the 129,000 forecast, suggesting some softening in labour demand.
Average weekly earnings rose 4.1% year-on-year, broadly matching expectations.