FTSE 100 steady as BP and Shell gains offset miners' losses

The FTSE 100 was little changed on Tuesday, outperforming other European markets as strength in energy shares balanced declines in precious-metals miners. BP rose 1.8% and Shell added 1.4% as crude prices climbed after prospects for a lasting U.S.-Iran peace agreement weakened. Iran signaled it could take a more aggressive military posture after talks stalled, while Washington said it would not extend the temporary ceasefire, reinforcing geopolitical uncertainty. Mining stocks came under pressure as gold prices fell, with Fresnillo down about 1.2% and Endeavour Mining off 1.8%. UK labour market figures added a mixed domestic backdrop: unemployment held at 4.9% in the three months to June, above the 4.8% expected, payroll employment increased by 83,000 versus a 129,000 forecast, and average weekly earnings rose 4.1% year on year, broadly in line with expectations.

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