UK's FTSE 100 up as banks gain, oil prices steady

• US President Donald Trump said talks with Iran in New York had made progress, but then threatened to "annihilate" the country if a deal was not reached.
• Oil prices meanwhile held near their lowest in more than two weeks, kept in check by improving Gulf crude supplies and growing hopes for a diplomatic resolution to the US-Israeli war on Iran. UK's energy sector however .FTNMX601010 climbed 0.8%.
• Heavyweight banks .FTNMX301010 rebounded after falling over 1% in the last session with HSBC HSBA.L and Standard Chartered STAN.L adding 0.9% and 1.3% respectively.
• Pharma stocks .FTNMX201030 were a drag, down 0.9% with FTSE heavyweight AstraZeneca AZN.L down 1.1%.

• British engineering firm Renishaw RSW.L rose 3.7% to a more than five-year high after reporting better-than-expected annual adjusted pretax profit.
• JD Sports JD.L slid 3.8% after the sports and fashion retailer reported a 19.7% drop in first-half profit, hurt by weakness in its key North American market, becoming the top loser in the index.
• Clean energy technology developer Ceres Power CWR.L gained 1.7% after it posted 8% growth in half-year revenue from a year ago.
• Pollen Street POLNP.L has explored options, including a potential sale, as the London-listed private capital firm looks to scale up its asset management business, two sources said to Reuters. Pollen Street surged 17.1%, becoming the top gainer in the mid-cap index.

A survey showed that growth in British business activity cooled this month and inflation pressure built, an awkward backdrop for finance minister John Healey ahead of his first budget next month.