Tuesday Morning Markets: FTSE Lower as Oil Stocks Gain; Spirax, IWG Tumble on Results

The FTSE 100 slipped 0.2% and the FTSE 250 fell 0.2% in early Tuesday trading, tracking a soft tone across Europe, with Germany’s DAX down 0.3% and France’s CAC 40 off 0.1%, while the Euro Stoxx 50 edged up 0.1%.

Energy stocks are some of the standout gainers so far as Brent crude jumped 2% to $89.47 a barrel amid rising uncertainty over the Strait of Hormuz.

Reports state Iran has tied any reopening of the strategic waterway to a list of demands on the US, keeping traders on edge over potential supply disruption. Meanwhile, US President Trump has set out his own demands for Iran.

BP has risen 1.64%, and Shell has added 1.09%, while FTSE 250-listed Harbour Energy has climbed 2.63% on the crude tailwind.

The corporate earnings keep flowing…

Spirax Group has tumbled 7.25% despite reporting “in line” first-half results and reiterating full-year guidance, with revenue up 5% and adjusted operating profit up 8%.

International Workplace Group has slid 6.19% in the FTSE 250 even as it posted record system-wide revenue of $2.4bn (+11%) and reiterated EBITDA guidance, with the market seemingly wary of a swing to negative H1 cashflow.

Genuit Group has dropped 3.28% after flagging “challenging market conditions” in its half-year report, though full-year expectations were left unchanged.

Elsewhere, insurers Legal & General (-2.92%) and M&G (-2.79%) were among the top FTSE 100 fallers, with UBS downgrading both stocks to Sell.

On the upside, Lion Finance Group gained 1.92% after posting strong 1H26 results and extending its GEL 59.0m share buyback programme.

Aston Martin Lagonda has risen 3.93% and Atalaya Mining added 2.52% after record H1 EBITDA of €126.2m and maintained production guidance. Small-cap Shoe Zone surged after a positive trading update, with cash levels ahead of budget.

Elsewhere in corporate news, IHG reported a strong first half with adjusted EPS up 13%, Bellway posted a 10.8% rise in completions, and Funding Circle announced a new funding agreement with Castlelake.