The FTSE 100 edged higher on Tuesday, delivering its sixth consecutive quarterly advance. The index gained just over 3% in the second quarter following a 2.5% rise in the first, marking its strongest winning streak since 2022.
Aerospace and defence stocks led the market, with Rolls-Royce up 2.1% and BAE Systems adding 2%. Improved sentiment around geopolitics and firmer base metal prices also buoyed miners, including Rio Tinto and Glencore.
Financials provided additional support: Lloyds Banking Group climbed 2.1%, while HSBC, Barclays, and NatWest all posted steady gains. J Sainsbury rose 1.3%, helped by stronger food sales during the heatwave.
In contrast, several blue-chip defensives weighed on the index. AstraZeneca, Unilever, and BP each fell by more than 1%, while British American Tobacco slipped 0.9%.
On the macroeconomic front, the UK’s annualised GDP growth for the first quarter was revised down to 0.9%. Quarter-on-quarter growth remained in line with forecasts at 0.6%, and shop price inflation was unchanged at 1.2%.
