22.09.202610:25:03UTC+00FTSE 100 Edges Up as Oil Falls

The FTSE 100 sought to build on Monday’s 0.8% advance with a second consecutive session of gains on Tuesday, as oil prices eased following reports that Iran could reopen the Strait of Hormuz if the US lifted its blockade on Iranian ports. Kingfisher was the standout performer, jumping more than 9% after upgrading its profit guidance on the back of strong trading at Screwfix and in Poland and Iberia. Smiths Group climbed around 6.5%, supported by higher revenue, an anticipated second-half acceleration at its John Crane division, and ongoing demand linked to the data-centre boom at Flex-Tek. In contrast, energy majors Shell and BP declined 1% and 2.4%, respectively. Investors were also focused on geopolitics, with President Trump scheduled to address the UN General Assembly and potentially meet Iran’s president. On the data front, a CBI survey showed that a measure of UK factory orders rose this month to its highest level since July 2023, while UK government borrowing reached £18.3 billion in August, overshooting forecasts of £15.5 billion.