The FTSE 100 has edged up 0.2% so far on Tuesday, bucking mixed trading across Europe.
Germany’s DAX has slipped 0.2%, while France’s CAC 40 inched 0.1% higher. On Monday, US indices closed positively, with the Nasdaq gaining 2.7% and the S&P 500 rising 1.6% after a volatile previous week.
US index futures are currently lower.
Kingfisher is the standout performer in the FTSE 100, surging 6.2% after the retailer upgraded its full-year profit guidance. The move lifted sentiment in early trading.
Meanwhile, Banking stocks are another major source of strength. NatWest rose 3.3%, Barclays gained 3.2% and Lloyds advanced 2.8% following a report in the Financial Times suggesting that lenders are set to avoid a tax raid in the Chancellor’s upcoming Budget.
The prospect of a more favourable fiscal backdrop provided a boost to the sector, which has faced pressure from uncertainty around government policy in recent months.
At the other end of the FTSE 100, Beazley tumbled more than 9% after the insurer said that growth is running at the low end of expectations. It forecasts 2025 IWP growth to be flat to low single digits, prompting a sharp sell-off.
Intertek also declined, falling 3.7%, while Auto Trader dropped 2.2%. Auto Trader has seen a significant slide through November following its half-year earnings report on November 6 and is now trading at its lowest level since November 2023.
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