FTSE 100 edges up as energy gains offset miner weakness

The FTSE 100 edged higher on Tuesday, outperforming other European markets as gains in energy stocks offset weakness among precious-metals miners.

BP and Shell rose 3% and 2%, respectively, supported by higher crude prices as hopes for a lasting US-Iran peace agreement faded.

President Donald Trump said there were no talks scheduled with Iran and confirmed that the US naval blockade remained in place, adding to uncertainty over the conflict and the Strait of Hormuz.

Lower gold prices weighed on mining stocks, with Fresnillo falling around 3% and Endeavour Mining declining 2.8%.

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.