FTSE 100 rises on financials, industrials strength; oil slips

June 16 (Reuters) - London's FTSE 100 rose on Tuesday, with financials and industrials leading gains, as easing oil prices supported risk appetite.

Oil prices hit a three-month low, extending losses from the previous session after the U.S. and Iran reached a preliminary peace deal to end their conflict and reopen the Strait of Hormuz - a key global oil shipping route. [O/R]

The blue-chip FTSE 100 index advanced 0.6% to 10,490.35 points by 11:00 GMT, while the midcap FTSE 250 slipped 0.1%.

• Heavyweight banks rose 1.7%, with HSBC and Barclays gaining 1.6% and 2.1%, respectively.

• Aerospace & defence stocks led sectoral gains with a 2.4% rise, with Rolls-Royce adding 2.5%, the top gainer on FTSE 100. Peer BAE Systems rose 2.2%.

• Among midcap movers, Rathbones plunged 16.6% to a one-year low after the wealth manager said it will pause onboarding new clients for 12 months.

• SDCL Efficiency Income Trust plunged 22% after the investment firm proposed to wind down the business.

• SThree dropped 0.5% after the specialist recruitment firm reported a decline in its first-half net fees amid weak growth.

• Among deals, Associated British Foods slipped 1.6% after Britain's competition watchdog cleared its acquisition of rival Hovis.

(Reporting by Utkarsh Hathi in Bengaluru; Editing by Harikrishnan Nair)