The FTSE 100 edged up 0.1% on Tuesday morning, while the mid-cap FTSE 250 was flat. Market moves are muted across Europe, with Germany’s DAX down 0.1% and France’s CAC 40 up 0.2%.
Oil prices somewhat rebounded after Monday’s sell-off, following U.S. President Donald Trump’s decision to pause planned strikes on Iranian energy sites for five days. Brent crude gained about 2% to $97.81.
Shares in Kingfisher were in focus after the retailer posted a 6% rise in annual profit for the year to Jan. 31, driven by firm trading in the United Kingdom.
Adjusted profit reached £560 million, supported by like-for-like sales growth at its B&Q and Screwfix chains. However, the company reported weaker trends in France and Poland. It forecast adjusted profit of £565 million to £625 million for the current year.
Chief executive Thierry Garnier said the group is focused on its strategic priorities and cost discipline in what he described as a “mixed consumer environment.”
Top performers in the FTSE 100 included III, up 2.04%, CTE rising 1.93%, and REL gaining 1.71%. Leading fallers were BTRW down 1.98%, PSN off 2.10%, and ANTO sliding 2.52%.
Investors are awaiting the UK purchasing managers’ index at 9:30 am.
Outside the blue-chip index, Fever-Tree shares fell after reporting lower profit and weaker UK revenue in its FY25 results. Bellway dropped about 5.6% after trimming its full-year margin outlook, while S4 Capital rose follwoing its full-year earnings update.
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