On Tuesday, London’s FTSE 100 experienced an uptick, driven primarily by advancements in the financial and industrial sectors, as a decline in oil prices bolstered investor risk appetite. Oil prices have declined to a three-month low, continuing the downward trend from the prior session following a preliminary peace agreement between the U.S. and Iran aimed at resolving their conflict and reopening the Strait of Hormuz, a critical artery for global oil transportation.

The blue-chip FTSE 100 index advanced 0.6% to 10,490.35 points by 11:00, while the midcap FTSE 250 slipped 0.1%.

• Heavyweight banks rose 1.7%, with HSBC and Barclays gaining 1.6% and 2.1%, respectively.
• Aerospace & defence stocks led sectoral gains with a 2.4% rise, with Rolls-Royce adding 2.5%, the top gainer on FTSE 100. Peer BAE Systems opened a new tab and rose 2.2%.
• Among midcap movers, Rathbones plunged 16.6% to a one-year low after the wealth manager announced it will pause onboarding new clients for 12 months.
• SDCL Efficiency Income Trust experienced a significant decline of 22% following the investment firm’s proposal to wind down operations.
• SThree opens new tab dropped 0.5% after the specialist recruitment firm reported a decline in its first-half net fees amid weak growth.
• Among deals, Associated British Foods slipped 1.6% after Britain’s competition watchdog cleared its acquisition of rival Hovis.