FTSE 100 Edges Up as Oil Falls

The FTSE 100 attempted to extend its gains for a second session on Tuesday after rising 0.8% on Monday, as oil prices turned lower following a report that Iran could reopen the Strait of Hormuz if the US lifted its blockade of Iranian ports. Kingfisher led individual gainers, climbing more than 9% after raising its profit guidance on strong momentum at Screwfix and in Poland and Iberia. Smiths Group advanced around 6.5% after reporting higher revenue and highlighting expected second-half growth at John Crane, along with continued benefits from the data-centre boom at Flex-Tek. On the other hand, Shell and BP fell 1% and 2.4%, respectively. President Trump is due to address the UN General Assembly and may meet with Iran’s president. On the data front, a gauge of British factory orders rose this month to its highest level since July 2023, according to a CBI survey. Meanwhile, UK government borrowing reached £18.3 billion in August, above expectations of £15.5 billion.

The FTSE 100 fluctuated between small gains and losses on Tuesday after rising 0.8% on Monday, as investors weighed higher oil prices and ongoing Middle East uncertainty. Kingfisher led individual gainers, climbing more than 7% after raising its profit guidance on strong momentum at Screwfix and in Poland and Iberia. Smiths Group advanced around 4.5% after reporting higher revenue and highlighting expected H2 growth at John Crane and continued benefits from the data-centre boom at Flex-Tek. Healthcare, consumer and energy stocks also gained, while defence and financial shares declined. Brent crude rose, potentially ending a 4-session losing streak, as markets monitored supply flows and diplomatic efforts. President Trump is due to address the UN General Assembly and may meet Iran’s president. UK government borrowing reached £18.3 billion in August, above expectations of £15.5 billion, while borrowing for April-August totalled £77.3 billion, exceeding the OBR’s £69.2 billion forecast.

The FTSE 100 Index is dropping 3 points. Leading the losses are Admiral (-2.66%), Standard Chartered (-2.59%) and Fresnillo (-1.79%). Top gainers were Kingfisher (8.75%), Smiths (5.33%) and Howden Joinery (1.65%).