The FTSE 100 was broadly flat on Tuesday, following a 0.6% decline in the previous session, as cautious optimism over possible progress in Middle East peace talks underpinned sentiment ahead of a potential ceasefire deadline.
The pharmaceutical sector underperformed, with AstraZeneca down 1.3% and GSK off 1.5%. Associated British Foods was the session’s biggest decliner, falling more than 4% after unveiling plans to separate its Primark business, a move that signals the breakup of the conglomerate.
In contrast, utilities led the gains. SSE advanced 3.2%, while Centrica rose 1.8%. Experian also traded higher, adding more than 1% after appointing Adam Crozier as chair-designate.
On the macroeconomic front, UK unemployment edged down to 4.9%, from 5.2% previously and below consensus forecasts. Wage growth eased to 3.8% including bonuses and 3.6% excluding them, though both measures remained slightly stronger than expected.
