FTSE 100 gains as energy, mining shares jump

Heavyweight energy and mining stocks lifted London's FTSE 100 on Tuesday, with Royal Dutch Shell providing the biggest boost to the blue-chip index after it announced plans to sell its Permian Basin assets.

Heavyweight energy and mining stocks lifted London's FTSE 100 on Tuesday, with Royal Dutch Shell providing the biggest boost to the blue-chip index after it announced plans to sell its Permian Basin assets. The blue-chip FTSE 100 gained 0.7% in early trading. Oil major BP and miners BHP Group, Anglo American and Rio Tinto were among the top boosts.

Royal Dutch Shell jumped 3.3% after it said it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, exiting the largest U.S. oilfield as it focuses on its clean energy transition. The domestically focussed mid-cap index rose 0.5%, with travel stocks being among the top gainers.

In earnings-driven moves, British home improvement retailer Kingfisher fell 3% to slip to the bottom of the FTSE 100 even as it reported a jump in first-half profit. British transport company Stagecoach Group surged 19.5% after it said it was in talks with rival operator National Express about a possible all-share merger.