The FTSE 100 rose 0.3% to a four-month high on Tuesday, outpacing losses in both Europe and the US amid gains in energy stocks and limited exposure to the tech sector.
Shell added 3.8% after saying that it expects gas trading in its second quarter to be “significantly” higher than in the first. BP also gained 1.7% as oil prices climbed following fresh attacks on shipping vessels in the Strait of Hormuz.
Meanwhile, Diageo and AB Foods rose by around 3.7% each, Unilever gained 3.2% and Relx nearly 3%.
On the other hand, mining stocks were under pressure, with Anglo American and Antofagasta retreating by over 4%, Fresnillo down 3.9% and Endeavour falling 2.9%.
On the economic front, domestic data encouraged home buyers as the Lloyds house price index, formerly branded under Halifax, reported a 0.2% monthly price increase for June, marking the first gain in four months due to easing mortgage rates.