31.03.202607:50:02UTC+00FTSE 100 Extends Gains for 2nd Session

The FTSE 100 rose 0.5% on Tuesday, extending the previous session’s 1.6% advance, helped by improving sentiment as tensions in Iran appeared to ease. Mining stocks led the gains: Antofagasta climbed nearly 3%, Anglo American added more than 1.5%, and gold producers Fresnillo and Endeavour Mining each advanced around 1.5%.

Unilever edged up 0.5% amid ongoing discussions with McCormick over a potential deal involving its foods business. Banks were also in focus after the Financial Conduct Authority confirmed a £7.5 billion car finance redress bill. HSBC Holdings was broadly flat, while Lloyds Banking Group, Barclays, and NatWest Group all moved higher.

In contrast, energy majors Shell and BP slipped as oil prices weakened. On the macroeconomic front, revised data confirmed that the UK economy grew 0.1% in the fourth quarter, in line with the initial estimate. House prices were stronger than expected, rising 0.9% in March compared with 0.3% in February. Despite Tuesday’s gains, the FTSE 100 remains down about 6.5% for March.