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FTSE 100 Little Changed In Cautious Trade

U.K. stocks were little changed on Tuesday as gains in commodity-related stocks were offset by mixed earnings updates.

Meanwhile, the U.K.'s unemployment rose to 5.1 percent in the three months to December, a five-year high, official figures showed earlier today.

There was muted reaction to Prime Minister Boris Johnson's "roadmap" out of lockdown.

The benchmark FTSE 100 was down about 0.1 percent at 6.603 after closing 0.2 percent lower on Monday.

Higher commodity prices lifted miners, with BHP and Anglo American rising around 1 percent.

BP Plc rallied 2.6 percent and Royal Dutch Shell added 1 percent as oil prices jumped by more than $1, underpinned by optimism over Covid-19 vaccine rollouts and lower output.

Lender HSBC Holdings declined 1.5 percent after it abandoned its long-term profitability targets and unveiled a revised strategy focused mainly on wealth management in Asia.

Intercontinental Hotels Group, whose brands include the Crowne Plaza, Regent and Hualuxe hotel chains, climbed 3.7 percent.

After slumping into a loss in 2020, the company said it is pressing ahead with its expansion plans to take advantage when things do pick up again.

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