London shares are little changed on Tuesday morning, with the FTSE 100 down 0.1% and the FTSE 250 flat, as investors weigh earnings against a fragile Middle East backdrop and fresh UK fiscal data.
On the continent, the DAX fell 0.3%, the CAC 40 was flat and the Euro Stoxx 50 dipped 0.2%.
Geopolitics remained centre stage ahead of the UN General Assembly in New York, where Iran’s President Masoud Pezeshkian is attending amid speculation of a possible sideline meeting with Donald Trump, who says he is “probably open” to talks.
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Iran’s Revolutionary Guard nonetheless insisted the US and Israel must accept a full withdrawal from the region, and the Houthis in Yemen are said to be pushing for control of the country’s highlands.
Despite a decline on Monday, oil prices are up so far this morning, with Brent crude having gained 1% to $101.29 and WTI up 0.7% to $92.98.
Elsewhere in commodities markets, spot gold slipped 0.7% to $4,313/oz and silver fell 1.4% to $65.07. The continued slide comes despite a fall in US treasury yields on Monday.
On the data front, the ONS reported UK government borrowing rose around a fifth year-on-year in August, with public debt holding just below £3 trillion, adding to pressure on Chancellor ahead of the Budget.
Kingfisher leads FTSE 100 risers, up 9.1%, after half-year results, with adjusted pre-tax profit up 9.9% to £404m, prompting an upgrade to full-year guidance.
Smiths Group jumped 5.2% on strong FY26 results. Ithaca Energy (+2.0%) and Pearson (+1.6%) also advanced.
Fallers are dominated by financials: Admiral (-2.9%), Standard Chartered (-2.8%), Aviva (-1.9%) and NatWest (-1.8%).
In the FTSE 250, Raspberry Pi Holdings rose 3.2% ahead of Wednesday’s interims, with Oxford Nanopore (+2.8%) and Atalaya Mining (+2.5%) also higher.
Goodwin (-4.7%), JPMorgan Emerging Markets Dividend Income (-3.7%) and TP ICAP (-3.1%, on news its General Counsel is stepping down) lead the losers.
