The FTSE 100 Index Opens 0.13% Lower

The FTSE 100 traded around the flatline on Tuesday after falling 0.4% in the previous session, with gains in energy stocks helping to offset broader weakness. Shell and BP both rose more than 1% as oil prices climbed amid renewed uncertainty over a potential agreement to reopen the Strait of Hormuz, after US President Donald Trump issued tougher demands on Iran. Elsewhere, InterContinental Hotels Group fell more than 2% despite reporting first-half profit above expectations, supported by strong performance in the US and Greater China, which offset disruption in the Middle East. Housebuilder Bellway also warned that the near-term outlook remained uncertain despite exceeding forecasts for home completions and housing revenue. On the data front, the BRC reported that UK retail sales rose 1.3% year-on-year in July, below the 12-month average of 1.8%. However, Barclays’ broader consumer spending measure increased 2%, marking its strongest growth of the year.

The FTSE 100 Index is dropping 14 points. Leading the losses are Spirax-Sarco Engineering (-5.42%), Legal & General (-2.60%) and M&G (-2.43%). Top gainers were BP (1.47%), Shell (1.06%) and Scottish Mortgage (0.75%).

The FTSE 100 Index decreased 35 points or 0.32 percent on Monday to close at 10867 points. The decline was led by Imperial Brands (-5.28%), Coca-Cola (-4.40%) and British American Tobacco (-4.05%). On the upside, the strongest performers were Fresnillo (3.25%), Metlen Energy & Metals (2.52%) and Glencore (2.21%).