The FTSE 100 rose 0.3% on Tuesday, extending its winning streak to six sessions—the index’s longest run since May. Melrose was among the standout performers, jumping more than 10% after the aerospace group unveiled a $100 million claims programme related to damage at its GKN Aerospace facility in California. The associated criminal investigation has now been closed, and operations are expected to resume next month.
Healthcare stocks also underpinned the index, with AstraZeneca up 3% and GSK advancing 1.1%, while Rolls-Royce gained around 2%. Mining shares were similarly resilient, led by Glencore, which rose 1.4%, and Rio Tinto, up 0.9%.
By contrast, the sharp drop in oil prices pressured energy majors Shell and BP, while BAT fell 1.5%. Overall market sentiment was supported by reports that the US may return diplomats to its embassies in the Middle East, easing fears of a further escalation in the Iran conflict. Declining energy prices also helped temper worries about a resurgence in inflationary pressures.
