April 14 (Reuters) - UK stocks rebounded on Tuesday, buoyed by hopes of U.S.-Iran peace talks, even as the U.S. began a blockade of Iran's ports. The blue-chip FTSE 100 index rose 0.1% to 10,593.65
UK stocks rise on hopes of US-Iran peace talks
Market Performance and Sector Highlights
April 14 (Reuters) - UK's main stock indexes closed higher on Tuesday, lifted by industrials and financials, as hopes of U.S.-Iran peace talks boosted sentiment.
Global equities gained after a report that the United States and Iran could return to Islamabad this week for talks brought relief for investors.
Meanwhile, the International Monetary Fund cut Britain's economic forecast the most among G7 countries, citing the inflationary impact of the war in the Middle East.
The blue-chip FTSE 100 index gained 0.25% to 10,609.06 points at close, snapping a three-day losing streak, while the midcap FTSE 250 climbed 2%.
Sector Movements
Energy Sector
- Oil giants BP and Shell slipped 2.4% and 2.8%, respectively, as crude prices hovered around $95 a barrel.
- BP said on Tuesday it will reorganise into two main units under new CEO Meg O'Neill, and also flagged "exceptional" trading results amid oil price volatility.
Financial Sector
- Heavyweight banks gained 1.6% as NatWest Group and Standard Chartered climbed 2.5% each, and Barclays added 1.8%.
- HSBC's head of banking in Europe and Americas Gerry Keefe resigned, the lender said on Tuesday.
Mining and Metals
- Precious metal miners rose 3.4%, tracking gold and silver prices.
- Fresnillo and Hochschild Mining were up 4.7% and 4%, respectively.
Industrials
- Among industrials, Intertek soared 12.8% to a one-year high after the product testing and certifications group said it is considering splitting its business.
Travel, Leisure, and Luxury
- Travel and leisure stocks gained 2.9% as oil prices slipped; cruise operator Carnival climbed 5%.
- EasyJet and Wizz Air rose 5.1% and 8.5%, respectively.
- Luxury group Burberry gained 2.9%, sending personal goods sector up 3.1%.
Consumer Goods
- Imperial Brands slumped 4.8%, its lowest since July 2025, after the Davidoff cigarettes maker flagged uncertainty for the year due to the Middle East conflict.
Market Outlook
(Reporting by Utkarsh Hathi in Bengaluru; Editing by Sahal Muhammed and Vijay Kishore)
