UK Stock Market Today: FTSE 100 Turns Higher as Oil Tops $104, but Bellway and Weak UK Data Keep London Under Pressure
By late Tuesday, Britain’s FTSE 100 bounced into positive territory, climbing 0.6% to 9,953.50, according to delayed Reuters/LSEG figures. That move reversed its earlier drop—Reuters had initially reported the index off 0.1% at its lowest in three months. Brent crude, meanwhile, surged back above $104 a barrel, giving the blue-chips a lift. It’s significant now, since that move disguised a deeper rift within the London market. The FTSE 250—which is more tied to the UK economy—remained pressured after scraping levels not seen in nearly 10 months earlier in the session. Traders, meanwhile, continued to price in at least two more Bank of England hikes this year, with the Iran conflict reigniting energy and inflation concerns.