26.05.202611:57:20UTC+00FTSE 100 Rises on Tuesday

UK equities outperformed in an otherwise broadly negative European session, with the FTSE 100 buoyed by strong gains in banking and mining stocks, partly reflecting a catch-up move after the Bank Holiday. Banks advanced across the board, with HSBC up 1.1%, Lloyds Banking Group 1.8%, Barclays 2.4%, NatWest 2.1% and Standard Chartered 1.4%. Mining shares also rallied, as Rio Tinto rose 1.7%, Glencore 2%, Anglo American 1.6%, Antofagasta 1.9% and Endeavour Mining 2.7%.

Kingfisher was a standout performer, climbing as much as 8.3% following a trading update. By contrast, energy majors weighed on the index, with Shell and BP among the biggest drags. BP fell more than 4% after the board moved to remove chair Albert Manifold with immediate effect, following the emergence of governance and conduct concerns.

On the data front, figures from the British Retail Consortium showed UK shop price inflation rose to 1.2% year on year in May, while food inflation eased slightly to 2.7%.