The FTSE 100 Index Closes 0.54% Lower

The FTSE 100 fell on Tuesday after losing 0.7% in the previous session, as investors assessed the appointment of John Healey as chancellor, fresh UK economic data, and lower oil prices. Healey, the former defence secretary, was named by Prime Minister Andy Burnham after Monday's close. Burnham has pledged to cut household energy bills by scrapping the Digital ID programme. Meanwhile, June public borrowing came in lower than expected, while labour market data was broadly in line with forecasts, with wage growth easing slightly in the three months to May. Shell and BP declined as Brent crude slipped below $89 per barrel. AstraZeneca and GSK fell 0.6% to 0.8%, while Unilever, BAT, and Polar Capital also traded lower. Miners outperformed, led by Antofagasta, Glencore, Anglo American, Rio Tinto, Fresnillo, and Endeavour. Defence stocks also advanced, with Babcock, BAE Systems, and Rolls-Royce posting solid gains.

The FTSE 100 Index is dropping 35 points. Leading the losses are Segro (-2.13%), BT (-1.91%) and Compass (-1.90%). Top gainers were Babcock International (6.51%), Antofagasta (3.61%) and Endeavour (3.16%).

The FTSE 100 Index decreased 57 points or 0.54 percent on Monday to close at 10543 points. The decline was led by Barratt Redrow (-3.44%), Airtel Africa (-3.29%) and Kingfisher (-3.22%). On the upside, the strongest performers were Experian (2.37%), Diploma (1.42%) and JD Sports Fashion (1.17%).