FTSE 100 rises as Shell lifts energy; miners fall

The FTSE 100 rose 0.2% to 10,673.85 by 10:57 GMT on Tuesday as gains in energy stocks led by Shell offset losses in precious metals miners. The midcap FTSE 250 slipped 0.2% during the same session.

The energy sector climbed 1.9%. Shell advanced 2.4% after the company raised its second-quarter gas production forecast and indicated gas trading in the quarter would be significantly stronger than in the prior period. BP added 0.9% alongside broader sector strength.

Consumer-facing stocks supported the index. Burberry, Diageo and Unilever each rose roughly between 3% and 3.7%, helping the FTSE 100 remain in positive territory despite weakness in other areas.

Precious metals miners were the weakest group, down 1.9%. Bullion prices moved lower while the US dollar strengthened, putting pressure on mining companies and limiting gains across the market.

Investors followed geopolitical developments. Tehran’s foreign minister warned that talks aimed at a final agreement with Washington would not begin if US threats continued. President Donald Trump warned he would “finish the job” if an agreement was not reached.

NATO leaders announced arms deals worth tens of billions of dollars in Turkey as member states publicised new defence spending commitments ahead of a summit with the US president.

On the domestic front, British house prices increased 0.2% in June, the first monthly rise since February. Lloyds reported the rise reflected an improvement in the housing market for the month and cautioned that the broader outlook remained uncertain.

At 10:57 GMT, the FTSE 100 stood at 10,673.85, up 0.2%; the FTSE 250 was down 0.2%, the energy sector was up 1.9%, and precious metals miners were down 1.9%.