Key facts
- The FTSE 100 opened higher on Tuesday, with Brent crude futures rising 3.54% to $87.07 per barrel.
- Weir Group surged 8.40% to 2,736p, while Reckitt Benckiser advanced 5.37% to 5,454p.
- Sage reported revenue growth of 11% in the first nine months of the year, maintaining its forecast for organic revenue growth of more than 9% this year.
- Greggs posted a 20% jump in pre-tax profit to £76 million and plans to reach at least 3,500 stores across the UK.
- Glencore reported profits at its commodities trading arm of around $3.3 billion in the first half.
- US markets saw mixed results, with the Dow Jones climbing 1% and the S&P 500 adding 0.2%, while the Nasdaq slipped 0.2%.
The FTSE 100 opened higher on Tuesday, with oil prices surging amid renewed Middle East tensions. Brent crude futures rose 3.54% to $87.07 per barrel, and US West Texas Intermediate (WTI) advanced 3.60% to $82.11 per barrel.
Sterling eased to $1.3298 against the US dollar and fell to €1.1662 against the euro.
Among the gainers, Weir Group surged 8.40% to 2,736p, Reckitt Benckiser advanced 5.37% to 5,454p, and Burberry Group gained 4.91% to 1,196p. Standard Chartered climbed 4.44% to 2,190p, Glencore rose 3.93% to 526.40p, and The Sage Group increased 3.15% to 969.40p.
On the downside, Admiral Group declined 1.22% to 3,720p, Endeavour Mining fell 1.03% to 3,551p, and Severn Trent slipped 0.92% to 3,032p.
Sage reported that revenue rose 11% to £2.06 billion in the first nine months of the year, driven by demand for its cloud accounting, payroll, and HR software. The company maintained its forecast for organic revenue growth of more than 9% this year.
Greggs saw its shares jump by more than 10% to 1,862p after posting a 20% increase in pre-tax profit to £76 million and announcing plans to expand its store network to at least 3,500 across the UK.
Glencore reported profits at its commodities trading arm of around $3.3 billion in the first half, with full-year production guidance for copper, zinc, and nickel remaining unchanged.
In the US, Wall Street experienced mixed results, with the Dow Jones climbing 1% to 52,747 and the S&P 500 adding 0.2%, while the Nasdaq slipped 0.2% to 24,877.