FTSE 100 Up 1.5% As Stocks Rebound From Recent Losses
(RTTNews) - The U.K. market is up in positive territory on Tuesday with stocks snapping a four-day losing streak, amid expectations the U.S. President Donald Trump will soften his tariff stance with a few countries.
Trump has reaffirmed Washington's new tariff policy but signaled his willingness to engage in dialogue with countries seeking more favorable trade terms.
"There could be permanent tariffs and there could also be negotiations... we're going to get fair deals and good deals with every country — and if we don't, we're going to have nothing to do with them," Trump said during a meeting with Israeli Prime Minister Benjamin Netanyahu.
However, there is still some uncertainty about any major shift in Trump's stance, as he has rejected the European Commission's offer proposing removal of tariffs on industrial goods as part of trade talks.
The benchmark FTSE 100 is up 115.73 points or 1.5% at 7,817.81 with a little more than half an hour before noon. The index had climbed to 7,874,97 earlier in the session, gaining nearly 175 points.
IAG is rising 5.4%, Rolls-Royce Holdings is gaining 5.2% and BAE Systems is up nearly 5%. Babcock International, Scottish Mortgage, Games Workshop, M&G, Ashtead Group, Legal & General, Polar Capital Technology, Glencore and Compass Group are advancing 3 to 4.5%.
Phoenix Group Holdings, ICG, 3i Group, Spirax Group, Barclays, St. James's Place, Aviva, Experian, Fresnillo, Hiscox, Lloyds Banking Group, Persimmon, Beazley, BP, Rightmove and Reckitt Benckiser are among the other major gainers in the session.
BT Group is declining 2.5%. Standard Chartered and HSBC Holdings are down 1.3% and 1.2%, respectively. Prudential and Convatec Group are down with modest losses.
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