FTSE 100 Down Nearly 0.5% At Noon

(RTTNews) - The UK stock market shed ground Tuesday morning as concerns about inflation and interest rates amid rising U.S.-Iran tensions hurt investor sentiment. Oil prices climbed higher and bond yields moved up, resulting in a drop in appetite for riskier assets such as equities.

The benchmark FTSE 100 was down 43.80 points or 0.42% at 10,454.49 at noon.

Intercontinental Hotels Group dropped 3.7%. Pearson, Melrose Industries, 3i Group, Relx, Informa, IAG, Barratt Redrow, Lion Finance, Persimmon and Natwest Group lost 2%-2.8%.

Diageo, Howden Joinery Group, Burberry Group, Rolls-Royce Holdings, Admiral Group, Convatec Group, Tritax Big Box REIT and LSEG shed 1.4%-2%.

British Land Company declined by about 2% despite reporting strong leasing activity during the first quarter of its fiscal year 2027.

Energy stocks BP and Shell moved up 2.3% and 1.6%, respectively, riding on higher oil prices.

Miners Glencore, Rio Tinto, Anglo American Plc and Antofagasta gained 0.8%-1.8%.

Centrica, Vodafone Group, Airtel Africa, IMI, Sainsbury (J), Aberdeen Group, SSE, Tesco and Weir Group also climbed higher.

In economic news, UK retail sales rose by 1.7% year-on-year on a like-for-like basis in June, falling short of market expectations for a 2.9% gain, slowing from a 3.4% increase in May and marking the softest growth since February, data from British Retail Consortium showed.