U.K. equities edged higher on Tuesday in line with gains across Europe, while the pound strengthened against the dollar amid reports that Washington and Tehran could be gearing up for another round of direct talks.
A Bloomberg report said officials are aiming to convene the next meeting before the two-week truce announced on April 7 lapses next week, with Islamabad listed as a potential host city among several options under review.
As of 07:27 GMT, the blue-chip index FTSE 100 rose 0.2% and the British GBP/USD gained 0.2% against the dollar to 1.3528. DAX index in Germany raised over 1%, the CAC 40 in France rose 0.5%.
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UK round up Shares in Pagegroup PLC (LON:PAGE) fell more than 6% after the recruiter flagged an increasingly uncertain outlook amid geopolitical risks, despite reporting first-quarter gross profit in line with expectations. Gross profit fell 4.9% year-on-year to £187 million, from £194.5 million a year earlier, and compared with a £187.1 million consensus estimate. The company did not provide full-year guidance.
Imperial Brands PLC (LON:IMB) reiterated its full-year earnings guidance despite flagging uncertainty over the Middle East conflict’s impact on second-half trading. The London-listed group said it remained on course to deliver at least high-single-digit earnings per share growth and at least 5% adjusted operating profit growth for FY26, alongside free cash flow of at least £2.2 billion. Strong tobacco pricing and next-generation product growth kept the British cigarette maker on track.
BP PLC (LON:BP) said that its oil trading division is on track for an exceptional first quarter, driven by the surge in oil prices following the U.S.-Israeli military campaign against Iran. The Middle East conflict has sent shockwaves through energy markets, with traders and refineries scrambling to secure alternative supplies after the effective closure of the Strait of Hormuz trapped vast volumes of Gulf oil. In its quarterly trading update, BP said its oil trading arm is expected to deliver exceptional results for the first three months of 2026, a sharp turnaround from a weak final quarter of 2025.
UK retail sales rose 3.6% year on year in March, accelerating from 1.1% growth in the same month last year and exceeding the 12-month average of 2.6%, according to new data on Tuesday, covering the period from March 1 to April 4. Food sales drove the increase, climbing 6.8% compared with 1.6% growth in March 2025, while non-food sales edged up 0.9% from 0.6% a year earlier. The British Retail Consortium attributed the stronger food performance to an early Easter, which brought families together over the long weekend.
Intertek Group PLC (LON:ITRK) said it has initiated a strategic review to evaluate whether to split itself into two separate businesses. The FTSE 100 company said it is weighing whether to separate Intertek Testing & Assurance, which covers consumer products, corporate assurance, and health and safety, from its Energy & Infrastructure arm. The two divisions generated revenues of £1.9 billion and £1.6 billion, respectively, in 2025.
Oxford Instruments PLC (LON:OXIG) said it expects to deliver a full-year performance in line with market expectations, with strong order momentum in its Advanced Technologies division. The scientific technology tools provider said full-year order intake for the group is expected to be up approximately 8% on an organic constant currency basis versus the prior year, with a book-to-bill ratio of approximately 1.07 for the year ended March 31, 2026.
National Gas, the operator of Britain’s National Transmission System, published its 2026 Gas Summer Outlook on Tuesday, concluding that the country is expected to have sufficient gas supply to meet forecast demand over the summer months under current conditions. Total gas demand for summer 2026 is comparable to summer 2025, with gas demand for power generation forecast to fall by around 6%, partially offset by a 2% increase in domestic demand.
