02.06.202616:00:42UTC+00FTSE 100 Rises on Tuesday

The FTSE 100 inched higher on Tuesday as a decline in oil prices lifted market sentiment, amid renewed optimism over a potential long-term US-Iran peace agreement. This followed news that Israel and Hezbollah had agreed to pause hostilities in Lebanon. Mining stocks drove gains in London: Antofagasta advanced more than 6%, Glencore and Anglo American each climbed over 4%, and Rio Tinto added more than 3%. The banking sector also firmed, with HSBC Holdings, Barclays and Standard Chartered up 2.3%, 3.3% and 2.7% respectively. In contrast, British American Tobacco slipped around 3%, even as the company reiterated its full-year outlook and highlighted robust growth in its Modern Oral and Vapour divisions.