23.06.202615:48:15UTC+00FTSE 100 Outperforms Global Markets

The FTSE 100 inched higher on Tuesday, outperforming global markets that were weighed down by deteriorating sentiment toward artificial intelligence stocks. The UK benchmark was buoyed by strength in heavyweight healthcare and consumer names: AstraZeneca advanced 2.5%, GSK gained 1.9%, Unilever rose 1.6%, and British American Tobacco added 3.4%. Bunzl was another standout, with its shares jumping more than 5% after a robust first half prompted the group to upgrade its full-year revenue growth guidance.

In contrast, mining stocks came under heavy pressure, with Antofagasta sliding 5.6% and Anglo American retreating 5%. Investors also kept a close eye on domestic politics following the resignation of Prime Minister Keir Starmer, amid expectations that Andy Burnham will succeed him and growing anxiety over public debt, which is nearing 100% of GDP.

These market moves coincided with fresh economic data showing that the UK services sector contracted in June at its fastest pace in nearly three and a half years.