FX.co ★ FTSE 100 Edges Down Slightly

The FTSE 100 edged down 0.2% on Tuesday, pressured by weakness in banking stocks, though it still outperformed wider European indices. Market sentiment was dampened by growing doubts over the durability of the US-Iran ceasefire and mounting political uncertainty in the UK. Prime Minister Keir Starmer vowed to stay in office despite calls from more than 70 Labour MPs for his resignation after the party’s poor showing in local elections. Banks led the declines, with HSBC, Lloyds, Barclays, NatWest and Standard Chartered all falling between 1% and 4%. Vodafone slid more than 7%, despite beating earnings forecasts and returning to growth in Germany. Offsetting some of the losses, oil majors Shell and BP advanced as crude prices remained elevated amid persistent tensions in the Middle East.