FX.co ★ FTSE 100 Trades at 3-Month High

The FTSE 100 experienced an uptick of over 0.8%, reaching its highest level in nearly three months during Tuesday’s trading session. This increase followed Monday’s holiday, as investors responded positively to indications of diminishing trade tensions. Confidence was bolstered after U.S. President Donald Trump decided to extend the deadline for implementing 50% tariffs on the European Union until July 9, subsequent to discussions with European officials. This extension provides additional time for negotiation, with the EU committing to expedite talks to prevent a transatlantic trade conflict. Among the notable market movers, AstraZeneca's shares rose by 0.8% after the European Union recommended approval for its drug Imfinzi for treating a specific type of bladder cancer. HSBC saw a 0.4% rise, following reports of the bank eliminating more than twenty analyst positions to improve operational efficiency. Conversely, Bodycote reported declining revenues in the first four months of the year, attributing this to continued weakness in the automotive and industrial sectors, although it acknowledged advancements in Civil Aerospace. In the FTSE 250 index, Elementis experienced a remarkable surge of up to 16% after announcing the sale of its Talc division to an Italian company.