FTSE 100 edges higher as cyclicals rise

Lebanon also announced a ⁠partial ceasefire between Hezbollah and Israel. * Iran has effectively halted most non-Iranian shipping in and out ⁠of the Gulf since the war began, choking off about a fifth of global oil ​and liquefied natural gas flows, driving up prices and fuelling inflation concerns.

The UK's blue-chip FTSE ​100 climbed on Tuesday, led by ​gains in cyclical sectors ‌such as ​miners and banks, while investors watched for signs of progress in talks to end the Iran war.

The FTSE 100 ‌index closed up 0.3%, while the midcap FTSE 250 climbed 0.6%. * Industrial metal miners led gains, with heavyweights including Glencore, Anglo American and Rio Tinto climbing around 4% each as ‌copper prices climbed to a more than two-week high.

* British banking stock index ‌rose 1.9% to close at its highest since December 2007. * Oil and gas stocks edged up 0.4%, with crude prices little changed as Iran reviewed a proposed agreement with the United States to halt ⁠the ​war. Lebanon also announced a ⁠partial ceasefire between Hezbollah and Israel.

* Iran has effectively halted most non-Iranian shipping in and out ⁠of the Gulf since the war began, choking off about a fifth of global oil ​and liquefied natural gas flows, driving up prices and fuelling inflation concerns. * Bank ⁠of England Governor Andrew Bailey said it was important to bring British inflation back to target and ⁠give households ​confidence about the central bank's ability to do so.

* Among single stocks, British American Tobacco raised its forecast for revenue from smoking alternatives like vapes after ⁠a significant U.S. policy shift, but kept its group-wide guidance unchanged, sending its shares down ⁠2.5%. * GB ⁠Group slid 17% after the identity technology company clocked a yearly loss due to an impairment charge of £73.1 million.