FTSE 100 rises on financials, industrials strength; oil slips

Associated British Foods

Today 12:06

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FTSE 100 up 0.6%, FTMC down 0.2%
Associated British Foods down after Hovis takeover approval
Rathbones plunges after pausing new clients onboarding

    June 16 (Reuters) - London's FTSE 100 rose on Tuesday, with financials and industrials leading gains, as easing oil prices supported risk appetite.
Oil prices hit a three-month low, extending losses from the previous session after the U.S. and Iran reached a preliminary peace deal to end their conflict and reopen the Strait of Hormuz - a key global oil shipping route. O/R
The blue-chip FTSE 100 index .FTSE advanced 0.6% to 10,490.35 points by 11:00 GMT, while the midcap FTSE 250 .FTMC slipped 0.1%.
Heavyweight banks .FTNMX301010 rose 1.7%, with HSBC HSBA.L and Barclays BARC.L gaining 1.6% and 2.1%, respectively.
Aerospace & defence stocks .FTNMX502010 led sectoral gains with a 2.4% rise, with Rolls-Royce adding 2.5%, the top gainer on FTSE 100. Peer BAE Systems BAES.L rose 2.2%. 
Among midcap movers, Rathbones RAT.L plunged 16.6% to a one-year low after the wealth manager said it will pause onboarding new clients for 12 months.
SDCL Efficiency Income Trust plunged 22% after the investment firm proposed to wind down the business.
SThree STEMS.L dropped 0.5% after the specialist recruitment firm reported a decline in its first-half net fees amid weak growth. 
Among deals, Associated British Foods ABF.L slipped 1.6% after Britain's competition watchdog cleared its acquisition of rival Hovis.

(Reporting by Utkarsh Hathi in Bengaluru; Editing by Harikrishnan Nair)
((utkarshtushar.hathi@thomsonreuters.com))