BRUSSELS (dpa-AFX) - U.K. stocks climbed higher on Tuesday, extending gains to a third straight session, thanks to strong buying at several counters. Easing oil prices and bond yields aided sentiment.
Oil prices fell sharply as Russia partially lifted its diesel export restrictions, helping ease supply constraints in global fuel markets.
Brent crude prices fell to $104.90 a barrel, losing about 1.7%.
According to Reuters, Russia expects to increase diesel exports from 3 million to 3.5 million metric tons per month by the end of 2026, returning to the levels seen before the crisis and potentially exceeding volumes announced by U.S. President Donald Trump.
Russia said EU countries bought $320.7 billion in hydrocarbons since 2022 despite sanctions, including $21.3 billion in 2026.
The benchmark FTSE 100, which climbed to 10,763.69, was up 69.70 points or 0.65% at 10,725.98 about half an hour past noon.
Melrose Industries gained more than 4.5%. Diageo moved up 2.5%. Natwest Group climbed nearly 2.5%. Endeavour Mining, JD Sports Fashion and Airtel Africa gained 2%-2.25%.
WPP, British Land, Weir, Croda International, Coca-Cola Europacific Partners, AstraZeneca, Tritax Big Box REIT, Standard Life, Barratt Redrow, LondonMetric Property, Admiral Group, Vodafone Group and BT Group gained 1.5%-1.8%.
Shares of research and data analytics group YouGov Plc soared nearly 13% after the company launched a share buyback program for up to £15 million, replacing its fiscal year 2026 annual dividend.
Premier Inn owner Whitbread advanced more than 2%. The company backed its five-year turnaround plan and urged its shareholders to vote against activist investor Corvex Management's proposal to appoint a Corvex-nominated director to its board.
Oxford Instruments gained 3.2% after it reported nearly 44% growth in first-half order intake, driven by data-center demand at its Advanced Technologies division.
Energy giant BP gained more than 1% despite flagging $3-4.5 billion of impairments in its third quarter results.
Homebuilder Bellway gained 1.3% after FY revenue slightly beat estimates.
Polar Capital Technology Trust drifted lower by about 2.25%. Balfor Beatty, Antofagasta, IMI and Rolls-Royce Holdings shed 1%-1.6%.
In economic news, UK retail sales growth eased in September as households reduced spending amid concerns over expected rises in household bills and taxes, a report from the British Retail Consortium said.
The BRC-KPMG total retail sales grew 1.3% year-on-year in September, weaker than the 2.3% expansion seen in the same period of previous year.
Food sales rose 2.5% and non-food sales climbed 0.3% in September. The unusually warm weather weakened demand for clothing and footwear.
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