FTSE 100 extends winning streak to six sessions
The FTSE 100 trades higher for a sixth straight session, with Melrose gaining more than 8% on a $100 million GKN Aerospace claims programme as oil dips slightly and metals weaken.
The FTSE 100 traded higher on Tuesday, extending its winning streak to six sessions, its longest run of gains since May.
Melrose was among the strongest performers, rising more than 8% after the aerospace company announced a $100 million claims programme related to damage at its GKN Aerospace facility in California.
A criminal investigation into the incident has been closed, while the site is expected to resume operations next month.
Oil prices were only slightly lower after the US unveiled new sanctions targeting businesses involved in Iran’s trade network.
The measures, dubbed “Operation Economic Outcast” by Treasury Secretary Scott Bessent, have affected companies in China and Hong Kong but have so far avoided major Chinese financial institutions.
Meanwhile, weakness in both precious and industrial metals weighed on miners.