The FTSE 100 Index Opens 0.36% Lower

The FTSE 100 edged lower on Tuesday as renewed US-Iran tensions pushed oil prices higher, with gains in energy and mining stocks outweighed by broader market weakness. President Donald Trump said the US would reinstate a blockade on Iranian vessels using the Strait of Hormuz and seek payments on all other cargo transiting the waterway. Banking stocks declined, with HSBC, Lloyds Banking and Barclays down around 0.6%, NatWest losing 0.9%, and Standard Chartered falling more than 1%. Defence names also weakened, with Rolls-Royce down 2% and BAE Systems slipping 0.6%, while Unilever, BAT, GSK and AstraZeneca also traded lower. AstraZeneca announced an exclusive global licensing agreement for its lung cancer treatment Zegfrovy in a deal worth up to $1.5 billion. On the upside, Shell rose 1.6% and BP gained 2.7% after reporting stronger refining margins, while Rio Tinto, Glencore, Anglo American and Antofagasta each advanced more than 1%.

The FTSE 100 Index is dropping 38 points. Leading the losses are Intercontinental Hotels (-3.30%), 3i (-2.27%) and Informa (-2.24%). Top gainers were BP (2.82%), Shell (1.72%) and Centrica (1.65%).

The FTSE 100 Index decreased 0.9 points or 0.01 percent on Monday to close at 10496 points. The decline was led by IG Group Holdings (-3.10%), Fresnillo (-2.62%) and Endeavour (-2.60%). On the upside, the strongest performers were Vodafone (5.22%), BP (4.22%) and BT (3.49%).