FX.co ★ FTSE 100 Rises on Tuesday

On Tuesday, the FTSE 100 index saw a modest increase of 0.4%, bolstered by a positive performance in the oil, financial, and mining sectors. BP's shares surged by approximately 3% following an agreement with Libya’s National Oil Corporation aimed at revitalizing two major oil fields. Shell's stock also rose by nearly 2%. Standard Chartered experienced a gain of over 2%. Mining industry heavyweights such as Glencore, Rio Tinto, and Anglo American saw their shares rise by 2.8%, 1.3%, and 1.2%, respectively. Entain advanced by 2.9%, following an upgrade from Bank of America, which pointed to the robust performance of its US BetMGM joint venture as a key factor. Market sentiment was shaped by global trade developments, notably President Trump’s tariff initiatives along with hopes for continued negotiations with Europe. Domestically, concerns about the UK’s fiscal position intensified after the Office for Budget Responsibility warned that national debt could surpass 270% of GDP by the early 2070s, due to the escalating costs associated with an ageing population and increasing healthcare demands.