The FTSE 100 advanced on Tuesday, buoyed by expectations of renewed talks between the US and Iran, even as President Donald Trump ordered a naval blockade of the Strait of Hormuz ahead of a potential ceasefire deadline next week. Oil prices retreated, with both Brent and WTI slipping below $100 a barrel, lending support to broader market sentiment.
Mining stocks led the gains: Fresnillo rose more than 2%, Endeavour Mining added over 1.5%, and Antofagasta climbed more than 2.5%, alongside advances in Anglo American and Glencore. Travel stocks also fared well, with EasyJet and IAG each up around 1.7%.
Intertek jumped more than 10% after announcing a strategic review that could result in a break-up of the group, while reaffirming its full-year guidance.
On the downside, Imperial Brands fell nearly 6% after cautioning that it is losing market share, despite leaving its guidance unchanged and pointing to persistent geopolitical uncertainty. BP also warned that the conflict in the Middle East is likely to weigh on its first-quarter performance.
