UK stock indexes gain as financials rise

The blue-chip FTSE 100 index gained 0.1 per cent to 10,628.63 points ⁠, while the midcap FTSE 250 added 0.9 per cent

UK’s main stock indexes ​posted modest gains on Tuesday, led by advances in financials, as ‌hopes of possible ceasefire talks between the Iran and the U.S. bolstered investor confidence.

The U.S. voiced confidence that peace talks with Iran in Pakistan would proceed, while Iran said it ​was considering joining, though uncertainty remained as the ceasefire nears its ​end.

The blue-chip FTSE 100 index gained 0.1 per cent to 10,628.63 points ⁠by 1020 GMT, while the midcap FTSE 250 added 0.9 per cent.

Heavyweight bank HSBC ​and Standard Chartered advanced 1 per cent and 1.2 per cent, respectively, leading to a 0.6 per cent rise ​in the broader banks index.

Britain’s labour market cooled only marginally in the three months to February, with pay growth easing less than expected and unemployment falling largely due to students ​leaving the workforce.

British Land Company added 2.4 per cent after the real estate group ​raised annual earnings forecast on higher demand from AI and tech companies.

The benchmark FTSE 100 is ⁠up 4.4 per cent so far this month, underperforming its European peers. The pan-European STOXX 600 and German’s DAX are up 7.8 per cent and 8.3 per cent, respectively.

E-commerce group THG climbed 7.3 per cent after reporting strongest first-quarter revenue since 2021.

Miner Rio Tinto posted higher ​first-quarter iron ore ​sales, but flagged ⁠supply-chain risks in the second half, owing to the Middle East war. Its shares advanced 0.4 per cent.

Precious metal miners Fresnillo ​and Hochschild dropped 0.7 per cent and 1.3 per cent, respectively, tracking a decline ​in ⁠gold and silver prices.