The FTSE 100 moved higher again as investors continued to back energy and mining stocks, while signs of a possible reduction in US military action against Iran slightly improved wider market sentiment.
London’s main index had already posted a stronger session on Monday, led by miners, oil producers and defensive utilities. That reflected a market still responding to geopolitical tension in the Middle East and the effect that disruption fears can have on oil and other commodity prices. The FTSE 100’s sector mix means it often benefits when those themes dominate, particularly compared with more domestically exposed parts of the UK market.
Mining stocks remained an important part of that support. Rio Tinto was among the gainers after operations resumed at three of its four Pilbara iron ore port terminals following disruption caused by Tropical Cyclone Narelle. That helped steady sentiment around supply and supported the broader resources trade. Energy stocks also stayed firm as oil prices remained elevated, keeping investor attention on companies with direct exposure to higher commodity prices.
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