United Kingdom: FTSE 100 Pares Gains Heading Into the Close.

The FTSE 100 gave up earlier gains and traded around flat to slightly lower on Tuesday, as losses in energy stocks and miners weighed on the market. Shell and BP fell 2% and 1.3%, respectively, as Brent crude dropped below $90 a barrel for the first time since August amid growing hopes of a resolution to the Middle East conflict. Gold producers Fresnillo and Endeavour were among the worst performers, down by around 3.5% and 4%. Also, Rio Tinto, Glencore, Anglo American, and Antofagasta declined between 0.5% and 1.3%. The selloff extended across commodities after stronger-than-expected US inflation data reinforced expectations of further Federal Reserve rate hikes, pushing gold and silver down by over 2%. Copper was down more than 1%. AstraZeneca also slipped 0.8%. In contrast, Marks & Spencer gained more than 2.5% after reaffirming its target to cut GBP 600 million in costs by 2028 and announcing plans to double its dividend this fiscal year. Banks also held onto earlier gains.