- FTSE 100 down 0.3%, FTSE 250 down 0.7%
- BP gains on stronger trading, refining margin outlook
- Investors await U.S. inflation data, Warsh remarks
July 14 (Reuters) - UK's FTSE indexes edged lower on Tuesday on escalating U.S.-Iran tensions, while losses in financial and travel stocks outweighed gains in energy shares from oil major BP's comment that it benefited from the surge in oil prices earlier this year.
The blue-chip FTSE 100 index fell 0.3% to 10,461.14 points by 1024 GMT, while the midcap FTSE 250 slipped 0.7%.
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The U.S. carried out strikes against Iran for a third straight night, while President Donald Trump announced a blockade of Iranian shipping and a 20% fee on cargo transiting the Strait of Hormuz, sending Brent crude prices up 3% to around $85 a barrel.
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Travel and leisure stocks led sectoral losses, down 2.4%, with InterContinental Hotels Group falling 3.7% to the bottom of the FTSE 100 index.
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Banks also weighed on the index as investors awaited earnings from big U.S. banks later in the day.
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On the flip side, energy stocks led sectoral gains, up 1.8%, helped by a 2.3% rise in BP after the company said strong oil trading and higher refining margins would support second-quarter earnings.
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Industrial metals miners followed, with Atalaya Mining Copper , Glencore and Rio Tinto up 1.6% to 3.5% each.
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Investors await the U.S. inflation report and commentary from Federal Reserve Chair Kevin Warsh that could offer insights into the health of the world's largest economy.
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Among individual stocks, Ashmore fell 1.8% after the British asset manager reported quarterly net inflows ahead of expectations, with investors continuing to allocate capital to higher-yielding emerging market assets despite geopolitical uncertainty.
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Debenhams Group rose 3.1% after the online retailer said positive trading momentum continued through June and July, supported by improving sales margins and lower customer returns as its turnaround strategy gained traction.
Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Leroy Leo
Source: Reuters