FTSE 100 Edges Down on Tuesday
The FTSE 100 fell on Tuesday after a volatile session, reversing Monday’s 0.8% gain as caution prevailed amid uncertainty over efforts to restore energy flows through the Strait of Hormuz. Brent crude hovered near $100 a barrel, while President Donald Trump said he expected the US to reach a deal with Iran after the election and noted that oil flows had increased since the conflict began, with prices likely to fall sharply once it ends. Banks weakened, with HSBC down 1.4%, Barclays 0.9% and Lloyds 1.1%, while defence stocks Rolls-Royce and BAE Systems fell 1.4% and 2.6%, respectively. On the other hand, Kingfisher surged 12% after raising profit guidance on strong momentum at Screwfix, Poland and Iberia. Smiths Group gained almost 8% on higher revenue and growth expectations at John Crane and Flex-Tek. Meanwhile, a CBI survey showed factory orders at their highest level since July 2023, while August government borrowing reached £18.3 billion, above expectations of £15.5 billion.
8% gain as caution prevailed amid uncertainty over efforts to restore energy flows through the Strait of Hormuz. Brent crude hovered near $100 a barrel, while President Donald Trump said he expected the US to reach a deal with Iran after the election and noted that oil flows had increased since the conflict began, with prices likely to fall sharply once it ends. 6%, respectively. On the other hand, Kingfisher surged 12% after raising profit guidance on strong momentum at Screwfix, Poland and Iberia.
Smiths Group gained almost 8% on higher revenue and growth expectations at John Crane and Flex-Tek. 5 billion.