Consumer staple stocks drive FTSE 100 higher, Barclays weighs

London's FTSE 100 climbed on Tuesday, with a boost from consumer staples and financial stocks, as investors hoped for progress in Russia-Ukraine peace talks, while Barclays shares hit a three-week low following a discounted stake sale.

London's FTSE 100 climbed on Tuesday, with a boost from consumer staples and financial stocks, as investors hoped for progress in Russia-Ukraine peace talks, while Barclays shares hit a three-week low following a discounted stake sale. The blue-chip index rose 0.6%, with Dove soap-maker Unilever and spirits-maker Diageo gaining 1.3% and 1.1%, respectively, and providing the biggest boost to the index.

Admiral Group Plc jumped 3% to the top of the index after Barclays upgraded the motor and home insurer's stock to "overweight". However, a 4.8% drop in Barclays Plc limited gains on the index. A top Barclays investor launched the sale of a more than 3% stake in the bank, a day after the lender revealed a product sale blunder costing it an estimated 450 million pounds ($588.96 million).

The domestically focussed midcap FTSE 250 index advanced 0.6%. Air raid sirens sounded across Ukraine before dawn on Tuesday as negotiators from Kyiv and Moscow prepared to meet in Turkey for face-to-face talks.

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