UK equities traded slightly higher on Tuesday, tracking gains across European markets, while sterling strengthened against the dollar amid renewed optimism over potential talks between the United States and Iran. Reports suggest both sides are aiming to hold another round of discussions before a temporary two-week truce announced on April 7 expires, with Islamabad among the possible venues under consideration.
By 07:27 GMT, the FTSE 100 had risen 0.2%, while the pound gained 0.2% to trade at $1.3528. Elsewhere in Europe, Germany’s DAX climbed more than 1%, and France’s CAC 40 advanced 0.5%.
UK Market Highlights
PageGroup (LSE:PAGE) shares dropped over 6% after the recruiter pointed to a more uncertain outlook amid geopolitical risks. First-quarter gross profit came in at £187 million, down 4.9% year-on-year but broadly in line with expectations. The company did not issue full-year guidance.
Imperial Brands (LSE:IMB) reaffirmed its full-year outlook, despite cautioning that Middle East tensions could weigh on second-half performance. The company continues to expect at least high single-digit earnings per share growth, supported by strong tobacco pricing and expansion in next-generation products.
BP (LSE:BP.) said its oil trading arm is on track for an “exceptional” first quarter, driven by higher oil prices following geopolitical disruptions in the Middle East, including the effective closure of the Strait of Hormuz.
British Retail Consortium data showed UK retail sales rose 3.6% year-on-year in March, accelerating from 1.1% growth a year earlier and exceeding the 12-month average. Food sales were a key driver, increasing 6.8%, partly due to an early Easter boosting demand.
Intertek (LSE:ITRK) announced a strategic review to assess a potential split between its Testing & Assurance and Energy & Infrastructure divisions, which generated £1.9 billion and £1.6 billion in revenue respectively in 2025.
Oxford Instruments (LSE:OXIG) said it expects full-year results in line with expectations, supported by strong order growth in its Advanced Technologies division. Group order intake is projected to rise around 8% on an organic constant-currency basis.
National Gas reported that the UK is expected to have sufficient gas supply to meet demand over summer 2026 under current conditions. While power generation demand for gas is forecast to fall by around 6%, this is expected to be partly offset by a 2% increase in domestic consumption.
Overall, the market tone remains cautiously positive, supported by improving geopolitical sentiment and steady corporate updates, though uncertainty around global tensions continues to influence investor sentiment.
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