18.08.202607:38:22UTC+00FTSE 100 Outperforms Europe

The FTSE 100 was little changed on Tuesday but outperformed most other major European indices, as strength in energy stocks offset weakness among precious-metals miners. BP and Shell gained 1.8% and 1.4%, respectively, supported by higher crude prices after hopes for a durable US–Iran peace agreement receded. Tensions increased as Iran signalled it could adopt a more aggressive military posture following stalled negotiations, while Washington ruled out extending the temporary ceasefire, heightening geopolitical uncertainty.

Lower gold prices dragged on the mining sector, with Fresnillo down about 1.2% and Endeavour Mining off 1.8%. On the macroeconomic front, UK labour market data showed the unemployment rate steady at 4.9% in the three months to June, slightly above the 4.8% consensus forecast. Payroll employment rose by 83,000, undershooting expectations for a 129,000 increase and pointing to a modest softening in labour demand. Average weekly earnings climbed 4.1% year-on-year, broadly in line with market estimates.