Iron ore miners and oil stocks extend gains from Monday's session, heading up London's blue chip benchmark for a second day in a row. The FTSE 100 trades 0.75% higher at 6,320 on the continuing commodities rally, gaining further support from banks and industrials.
Oil major Royal Dutch Shell (RDSB), which represents around 10% of the FTSE 100, provides a sizeable boost to the London market gaining 2.6% to £17.55 as key crude benchmarks move a quarter to a third of a percent higher.
Precious metal miners, in demand on Monday, are notable absentees from today's rally as prices of gold, platinum and silver all post marginal declines in early London deals.
Emerging markets lender Standard Chartered (STAN) leads the banks, up 1.7% to 547p.
In corporate news, unloved Sports Direct (SPD) ticks 3.3% higher to 375.7p ahead of mercurial owner and Executive Deputy Chairman Mike Ashley's appearance in front of the Business, Innovation and Skills Select Committee later today, where he'll give evidence on the retailer's treatment of staff.
Plastic additives specialist Symphony Environmental (SYM:AIM) gains 10.6% to 6.5p on news it has signed a three-year agreement with Pakistan International Airways to convert its normal plastic packaging into d2w biodegradable plastic.
Digital sports events business Gfinity (GFIN:AIM) adds 5.6% to 9.4p after signing an agreement with Gillette to create a football-based eSport competition, which starts on 8 June. Qualifying matches will be staged online and the finals will be held at the Gfinity arena in London on 8-9 July.
Managed data centres firm Iomart (IOM:AIM) is in confident mood as it posts strong and in-line year to 31 March 2016 results. EBITDA shows an 11% increase at £32.3 million on underlying revenues roughly 6.6% higher to £76.3 million, sparking a 3.8% rise in the share price to 277p.
Home, car, pet and travel insurer Esure (ESUR) moves 2.3% higher to 289.6p on news that it could demerge Gocompare.com. The price comparison website is expected to report a 30% rise in profits in 2016 and, based on rival site Comparethemarket.com’s potential £1 billion IPO, the insurer could make more than the £95 million it bought 50% of the site for 14 months ago.
Residential lettings agency Belvoir (BLV:AIM) climbs 6% to 124p on agreeing to buy Northwood GB for £22 million. The deal will make Belvoir the UK’s largest property franchiser with 301 outlets managing 54,000 properties. The deal is being part funded by a £2.5 million placing, on a 4.3% discount.