10th Nov 2026 11:58
(Alliance News) - Stock prices in London were higher at midday on Tuesday as investors awaited key US inflation figures, while oil majors weighed on the FTSE 100 amid growing hopes of a diplomatic resolution to the conflict between Washington and Tehran.
The FTSE 100 index was up 50.82 points, 0.5%, at 10,833.69. The FTSE 250 was up 174.37 points, 0.7%, at 24,880.61, and the AIM all-share was up 1.97 points, 0.3%, at 763.32.
The Cboe UK 100 was up 0.5% at 1,075.55, the Cboe UK 250 was up 0.8% at 21,996.53, and the Cboe Small Companies was up 0.2% at 18,657.95.
In European equities on Tuesday, the CAC 40 in Paris was up 1.2%, while the DAX 40 in Frankfurt gained 1.3%.
Investors were looking ahead to the release of US consumer price inflation figures for October, which could influence expectations for the future path of US interest rates.
Consensus forecasts point to annual inflation accelerating to 3.9% in October from 3.7% in September.
Meanwhile, US small business confidence was little changed in October, while uncertainty fell to its lowest level in nearly a year despite persistent inflationary pressures and labour shortages, according to figures from the National Federation of Independent Business.
The NFIB small business optimism index edged down to 97.8 points in October from 97.9 in September, remaining slightly below its 53-year average of 98.0.
The uncertainty index fell six points to 84, its lowest reading since December 2025.
NFIB Chief Economist Bill Dunkelberg said: "There was little change in optimism among small businesses in October as owners navigated enduring challenges, though there were some encouraging developments."
The pound was quoted at USD1.3426 at midday Tuesday, higher than USD1.3415 at the London equities close on Monday. Against the euro, sterling fell to EUR1.1962 from EUR1.1974 a day earlier.
The euro rose to USD1.1219 from USD1.1203 late Monday. Against the yen, the dollar climbed to JPY158.18 from JPY158.05.
In the FTSE 100, oil majors were among the leading fallers as crude prices declined amid renewed optimism over diplomatic efforts to end the conflict between the US and Iran.
Shell fell 1.8%, while BP declined 1.6%.
Brent oil was trading at USD91.15 a barrel at midday Tuesday, lower than USD94.27 late Monday.
US President Donald Trump said momentum was building towards ending the war with Iran, describing the country's military as "effectively over", although he did not rule out further US military action.
Trump also met Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani at the White House, as Qatar continued to play a central role in mediating efforts to bring the conflict to an end.
Elsewhere in the blue-chip index, Vodafone Group fell 2.0% after reporting a EUR4.85 billion impairment charge in Germany.
The telecommunications company upgraded its full-year 2027 profit and cash flow guidance following a strong first half, despite swinging to a pretax loss as a result of the German impairment.
Vodafone now expects adjusted earnings before interest, tax, depreciation and amortisation after leases of between EUR13.2 billion and EUR13.4 billion, alongside adjusted free cash flow of EUR2.8 billion to EUR3.0 billion.
Marks & Spencer Group rose 2.7% after outlining the next phase of its transformation strategy at a capital markets day, targeting stronger sales growth and higher profitability.
The London-based retailer aims to deliver mid-to-high single-digit sales growth over the medium term, with profit growth expected to outpace revenue.
M&S plans to double sales in its Food division over time, having already increased annual sales by more than 50% since financial 2022, while targeting an operating margin of around 5.0%.
The retailer also intends to increase online sales towards 50% of its Fashion, Home & Beauty business as part of its wider transformation.
M&S announced plans to double its financial 2027 dividend to 8.4 pence per share from 4.2p, with subsequent dividends intended to grow at least in line with earnings.
Among smaller companies, EDX Medical Group jumped 13% after launching what it described as the first breast cancer prognostic test in the UK capable of assessing both short-term and long-term risks of recurrence, extending up to 15 years.
The Cambridge-based diagnostics company entered into an agreement with US-based Caris Life Sciences to supply its Caris MI Clarity test in the UK.
Zanaga Iron Ore Co plunged 23% after warning that a proposed strategic equity investment by Red Arc Minerals LLC in its Zanaga Iron Ore Project was unlikely to be completed by November 30.
The iron ore developer said several matters remained unresolved between the parties, although negotiations were continuing in good faith.
Red Arc's exclusivity period expired on July 31, allowing Zanaga to explore alternative financing options while discussions continued.
Stocks in New York were called mixed, with the Dow Jones Industrial Average set to open up 0.3% and the S&P 500 up 0.1%, while the technology-heavy Nasdaq Composite was called down 0.2%.
The yield on the US 10-year Treasury was quoted at 4.89% at midday Tuesday, widening from 4.88% on Monday. The yield on the US 30-year Treasury narrowed to 5.26% from 5.27%.
Gold was quoted at USD4,110.50 an ounce at midday Tuesday, marginally lower than USD4,116.80 on Monday.
Still to come on Tuesday's economic calendar, the US releases its October consumer prices index report at 1330 GMT, with annual inflation expected to accelerate to 3.9% from 3.7% in September.
Before that, the four-week average of the US ADP employment change is due at 1315 GMT, following the most recent reading of 16,800.
By Eva Castanedo, Alliance News senior economics reporter
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