Investing.com -- British stocks edged higher on Tuesday as a slower contraction in UK construction and a tech-led Wall Street rally outweighed Houthi attacks on Saudi Arabia.
The FTSE 100 was up 0.21%, as of 09:06 ET (13:06 GMT) paring earlier gains. Germany's DAX rose 0.54%, and France's CAC 40 gained 0.24%. Sterling rose 0.45% to $1.3278.
UK construction shrank for another month in September, but more slowly, as the S&P Global PMI rose to 46.1 from 44.3 in August, still below the 50 mark dividing growth from contraction.
Commercial work was the most resilient and housing the weakest. New work fell at the fastest pace since June, which S&P Global linked to "geopolitical tensions and elevated borrowing costs", and business confidence was the lowest in four months.
UN Secretary-General Antonio Guterres, speaking in Islamabad, urged all parties in the U.S.-Iran war to "End the conflict, return to diplomacy and restore navigational rights in accordance with international law."
Qatar's emir met Iran's interior minister in Doha on de-escalation, and a Qatari foreign ministry spokesman said contacts continue to advance U.S.-Iran talks.
Saudi Arabia's civil aviation authority said Monday evening attacks on Jazan and Najran airports injured three people.
The Houthis claimed a missile strike on Abha airport on Tuesday, unconfirmed by Riyadh, and spokesman Yahya Saree said Saudi airports and Aramco facilities were targets. European Commission President Ursula von der Leyen said the attacks "keep destabilising the region, igniting further violence, and undermining global energy security."
Not finding the right stocks? Our AI's list of investor-grade stock picks for October just dropped »
Earlier, Iranian parliament security commission head Ebrahim Azizi warned any U.S. "miscalculation" would bring a response "even more severe and devastating", and President Masoud Pezeshkian nominated missile-programme veteran Mehrdad Akhlaghi Ketabachi as defence minister.
In Britain, The Times reported Prime Minister Andy Burnham is considering delaying an announcement on raising defence spending to 3% of GDP.
"The date of the Spending Review has not been set. This is pure rumour and speculation," Reuters reported citing a finance ministry spokesperson.
Finance minister John Healey delivers his first budget on Oct. 28.
Brent futures fell 2.64%, to $97.65 a barrel and WTI fell 2.3%, to $87.38. Gold futures rose about 1% to $4,197.45, while spot gold gained 0.71% to $4,170.95 an ounce.
UK round up
Informawill acquire B2B events firm Clarion for £2.24 billion and plans to separate its academic publishing arm Taylor & Francis.
The Clarion deal will be funded by committed financing and a roughly £940 million equity placing, while Informa expects to decide on Taylor & Francis' separation by March 2027.
ASOSshares fell as much as 13% after customers received an app notification claiming hackers had compromised its systems and threatened to leak data. The notification referenced ASOS's data protection officer and Snowflake, whose shares also fell, while both companies had not immediately commented.
Original Article
FTSE 100 today: Stocks edge up as UK construction slump eases, Gulf risks weigh
French fiscal fears put Eurozone volatility back in focus
Wall Street upgrades Brazilian equities after election first-round surprise
