UK’s FTSE 100 edges 0.20% higher as consumer stocks offset energy losses

  • UK equity indexes rose as consumer stocks offset weakness in energy shares.
  • The FTSE 100 gained 0.20% to 10,760.01 points by 1011 GMT.
  • Investors awaited potential US-Iran talks at this week’s United Nations General Assembly.

UK equities moved higher on Tuesday, with the blue-chip FTSE 100 rising 0.20% to 10,760.01 points by 1011 GMT and the FTSE 250 gaining 0.65%. Consumer stocks and industrial metal miners supported the market, offsetting a 1.4% decline in energy shares after oil prices fell 1%. BP dropped 2.2% and Shell lost 0.8% after Kyodo news reported that Iran had offered to reopen the Strait of Hormuz within seven days. Investors were also watching for potential US-Iran talks at the United Nations General Assembly this week. Kingfisher surged 9.2% after raising its full-year profit guidance, while Smiths Group climbed 6.5% after exceeding full-year operating-profit expectations and beginning a process to sell its US asbestos liability. Government borrowing in August exceeded expectations, pushing the financial year-to-date deficit further above forecasts and adding pressure on finance minister John Healey ahead of his first budget.

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