The FTSE 100 Index Opens 0.33% Higher

The FTSE 100 traded higher on Tuesday, rebounding to near a four-month high as energy sector gains countered broad declines in mining shares. Crude oil prices climbed following fresh attacks on shipping vessels in the Strait of Hormuz, emphasizing persistent security risks in the chokepoint and lifting index heavyweights Shell and BP. Shell shares surged over 2% after the energy giant announced that second quarter gas trading profits would be significantly higher than the previous quarter, while BP advanced 1.4%. Conversely, mining stocks fell sharply, with Fresnillo, Anglo American, Antofagasta, and Rio Tinto all sliding more than 2%, while miner Endeavour dipped 1.3%. On the economic front, domestic data encouraged home buyers as the Lloyds house price index, formerly branded under Halifax, reported a 0.2% monthly price increase for June, marking the first gain in four months due to easing mortgage rates.

The FTSE 100 Index is gaining 35 points or 0.33 percent on Tuesday. Leading the gains are Relx (2.51%), Shell (2.35%) and Rentokil Initial (2.32%). Top losers are Antofagasta (-2.45%), Anglo American (-2.35%) and Fresnillo (-2.17%).

The FTSE 100 Index decreased 30 points or 0.28 percent on Monday to close at 10649 points. The decline was led by Fresnillo (-3.08%), Associated British Foods (-2.99%) and AstraZeneca (-2.80%). On the upside, the strongest performers were St. Jamess (2.07%), Relx (1.97%) and Prudential (1.85%).