UK stocks rise on consumer goods amid war uncertainty

British stocks risen slightly supported by gains in consumer goods companies, offsetting a decline in the energy sector, amid anticipation of potential talks between the United States and Iran. The FTSE 100 index increased by 0.2% to 10,760.01 points, while the FTSE 250 rose by 0.65%. Oil prices fell by nearly 1% following a report about Iran's offer to reopen the Strait of Hormuz within seven days, leading to a 1.4% drop in energy sector stocks. Conversely, shares of consumer goods and mining companies rose, with British American Tobacco and Unilever each up about 1%, Anglo American jumping 2.7%, and Antofagasta increasing by 3.4%. Shares of M&C Saatchi declined by 6.1% after reporting a drop in revenue, while Kingfisher rose 9.2% after raising its profit outlook due to increased sales in European markets. Additionally, data showed that the UK government exceeded its September borrowing estimates, adding pressure on the Treasury ahead of the upcoming budget announcement.

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