FTSE 100 gains as energy, mining shares jump

Heavyweight energy and mining stocks lifted London’s FTSE 100 on Tuesday, with Royal Dutch Shell (LON:RDSa) 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 (LON:BP) and miners BHP Group, Anglo American (LON:AAL) and Rio Tinto (LON:RIO) were among the top boosts.

Royal Dutch Shell jumped 3.3% after it said it would sell its Permian Basin assets to ConocoPhillips (NYSE:COP) 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 (LON:KGF) 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 (LON:SGC) surged 19.5% after it said it was in talks with rival operator National Express about a possible all-share merger.