FTSE 100 down 0.5, FTSE 250 off 0.3
Sainsbury falls after maintaining annual financial guidance
Energy shares gain on higher oil prices
British election in focus

July 2 Reuters London39;s FTSE 100 tumbled to a twomonth low Tuesday as investors were cautious ahead of the parliamentary elections, although an uptick in oil prices helped offset the decline.

The bluechip FTSE 100 was down 0.5 at 8,126.96, falling below the crucial 8,200 mark, while the midcap FTSE 250 was off 0.3 at 0800 GMT.

Investors refrained from placing big bets ahead of the UK parliamentary elections on Thursday, where the Conservatives look set to be replaced after 14 years.

Wariness has returned amid ongoing political uncertainty, and markets are still digesting the repercussions of the first round of the French elections, said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

Most major sectoral indexes were trading in the red, with the exception of energy shares.

Oil giant BP gained more than 1, after oil prices , held near twomonth highs on expectations of rising fuel demand from the summer travel season and possible U.S. interest rate cuts.

GSK slipped 1.2 after a Delaware judge rebuffed a request by the drugmaker and others to appeal a ruling allowing over 70,000 lawsuits claiming that the heartburn drug Zantac caused cancer to go forward.

Sainsbury39;s, Britain39;s second largest supermarket group, fell 4.3 after it kept its annual financial guidance as it…