FTSE 100 up 28 points 
FTSE 250 gains 72 points 

11:00 am BST: London indices holding on 

The FTSE 100 is up over 28p, or 0.27%, to 10,713.28, led by gains in healthcare, industrial and consumer-facing stocks, with ConvaTec, Halma and InterContinental Hotels Group among the biggest risers.

The FTSE 250 has gained 72p, or 0.30%, to 24,407.45.

Small caps roundup

Incanthera PLC (AQSE:INC) used its preliminary results to outline its transition towards a skincare technology supplier, working through partners rather than selling directly to consumers.

New chief executive Stuart Robertson, who joined in June, said the strategy is to expand through partners that offer scale, established routes to market and access to new customers.

Zanaga Iron Ore Co Ltd (AIM:ZIOC, FRA:6ZA) highlighted in its interim results that work to improve the economics of its Republic of Congo iron ore project has identified around $2.2 billion of potential cash-cost savings.

The update comes as talks continue over a proposed strategic investment and up to $500 million of potential project financing.

Tribal Group PLC (AIM:TRB), the education software company, faces a possible 111p-a-share cash offer from its largest shareholder, Jenzabar, setting up a rival proposal to the £231.2 million sale agreed with Main Capital Partners.

The approach follows Tribal’s agreement to improved terms with Main Capital, which is acquiring the company through Thames Bidco for about 105p a share.

 Shares in Smiths News PLC (LSE:SNWS) (Smiths News PLC (LSE:SNWS)), the newspaper and magazine wholesaler, climbed nearly 8% to an intraday high of 72.8p on Tuesday after the company said full-year results would beat market expectations.

Trading in the year ended 29 August was stronger than expected.

Ariana Resources PLC (AIM:AAU, ASX:AA2, FRA:4A6) reported a sharp increase in first-half profit and ended June with £17.3 million in cash after monetising part of its Turkish mining interests to fund development of its flagship Dokwe gold project in Zimbabwe.

Rockfire Resources PLC (LSE:ROCK) has started work on a maiden JORC Inferred germanium resource estimate for its Molaoi deposit in Greece, with results expected within four weeks alongside an updated zinc resource.

S&U PLC (LSE:SUS) says it is well placed to navigate a challenging economic and political backdrop as it prepares fresh funding to support its growth plans.

Chairman Anthony Coombs cited St Paul’s letter to the Galatians, saying the motor and property lender’s current trends suggested its strategy was beginning to bear fruit for customers and shareholders.

10.00 am BST: Weir heads engineering-led advance

Weir Group climbed 2.3% to 2,694p to lead the FTSE 100 as industrial engineering shares moved to the top of London’s leaderboard.

Halma gained 2.2%, while Spirax Group and IMI advanced about 2%, pointing to a wider sector move rather than a company-specific surge.

The FTSE 100 held a 33-point gain at 10,717 after giving back a small portion of its earlier advance.

Healthcare shares also remained supportive, with GSK gaining 2% and AstraZeneca advancing 1.9%, while InterContinental Hotels Group added 2%.

The FTSE 250 rose 54 points, or 0.2%, to 24,389, while the AIM All-Share gained 0.2% to 785.

 

9.00 am BST: London rally broadens beyond miners

The FTSE 100 was 35 points, or 0.3%, higher at 10,720 as its early mining-led advance broadened into healthcare and industrial shares.

GSK climbed 2.1%, AstraZeneca gained 1.9%, while Halma, Spirax Group and Weir Group added between 1.5% and 1.6%.

The FTSE 250 rose 0.3% to 24,406, led by Vesuvius, which surged 24.6% after disclosing a takeover proposal from RHI Magnesita worth 551p a share. Close Brothers gained 10.8% following its annual results.

AIM edged 0.2% higher to 785.

Utilities, telecoms and retailers lagged, with Ithaca Energy down 2.5%, SSE off 2%, Vodafone losing 1.8%, and Tesco, Kingfisher and Sainsbury’s falling more than 1%.

 

8.15 am BST: Mining shares drive opening gains

London shares opened modestly higher, with the FTSE 100 gaining 18 points, or 0.2%, to 10,703 as miners recovered from Monday’s sector-wide sell-off.

Antofagasta led the blue-chip risers with a 2.1% gain, while Anglo American advanced 1.8%, Fresnillo rose 1.5% and Rio Tinto added 1.3%.

Mining equipment supplier Weir Group gained 1.1%, reinforcing the sector-wide pattern.

AstraZeneca climbed 1.3%, while InterContinental Hotels Group and Burberry rose 1.2% apiece, showing support beyond resources.

The FTSE 250 advanced 0.2% to 24,379, while the AIM All-Share gained 0.1%.

7.00 am BST: London points higher despite weak global handover

The FTSE 100 is expected to open 6 points, or 0.1%, higher at 10,691 after closing 0.1% lower at 10,684.88 on Monday as weak miners offset a rally among housebuilders.

UK shop-price inflation eased to 1.4% in September from 1.5% in August as retailer promotions reduced food-price pressures, although the rate remained above its three-month average of 1.3%.

Wall Street provided a negative handover after the S&P 500 fell 0.8%, the Dow Jones Industrial Average lost 0.7%, and the Nasdaq Composite declined 0.9% as the US 10-year Treasury yield reached its highest level since 2007.

Asian markets followed New York lower, with Japan’s Nikkei 225 down 1.4%, Hong Kong’s Hang Seng falling 0.7% and the Shanghai Composite slipping 0.1%, while Australia’s ASX 200 edged 0.1% higher after the Reserve Bank of Australia raised its cash rate by 0.25 percentage points to 4.6%.

Brent crude traded near $107.55 a barrel, offering potential support to BP and Shell, while gold recovered to $4,133.89 an ounce and copper futures gained 0.3% to $6.63 a pound.

Sterling weakened to $1.3233, while Bitcoin changed hands near $83,300 following a 3.4% decline over the past week.

Investors will watch UK mortgage approvals at 9.30 am, with economists expecting an increase to about 57,000 from 56,053.