FTSE 100 Rises 0.6%; Bank Stocks Move Higher

The FTSE 100 rose 0.6% to 10,493.52 by noon on Tuesday as investors awaited further details on the U.S.–Iran peace process and the Bank of England’s policy decision. Bank shares led gains, with Barclays, NatWest Group, Standard Chartered, HSBC, and Lloyds up 1%-2%. Industrial and defense names, including Rolls-Royce, BAE Systems, Convatec, and Babcock International, climbed 2.2%-2.6%, while several consumer and retail stocks such as Rentokil Initial, BT Group, Pearson, and Burberry fell 1%-2%. Hilton Food Group dropped 1.6% after confirming Mark Allen would assume chief executive duties on July 1. The call came as investors weighed geopolitical developments and awaited clues from the BoE later in the day.