Source: Sharecast
The FTSE 100 index rose 0.64% to close at 8,328.60 points, while the FTSE 250 dipped marginally by 0.06% to 19,238.24.
In currency markets, sterling was last up 0.04% on the dollar to trade at $1.3384, as it advanced 0.33% against the euro, changing hands at €1.1659.
“First tariffs and now the Fed chairman; Trump continues to make investors fret about the outlook for the US and the global economy,” said IG chief market analyst Chris Beauchamp, referencing remarks made by the US president about Jerome Powell’s position on Monday.
“Faced with this, the global investment community continues to pile into gold, which has made a fresh record today of $3,500.
“Gold is an unlikely successor to 2024’s fever-driven Mag7 rally, but so long as investors spend their time worrying about the next crisis the metal should continue to gain.”
Beauchamp said looking at Tuesday’s rebound for equities, a trader might be forgiven for thinking that financial markets had forgotten Trump’s threats to fire Powell.
“Volatility on both up and down days is a given right now, but Tesla’s earnings tonight could well determine the near-term direction.
“In the short-term, the path of least resistance seems to point higher, especially since the real impact of tariffs is unlikely to show up in this quarter’s round of reports.”
Richmond Fed survey the only major datapoint on return from Easter
Economic news was sparse in the UK on Tuesday as markets reopened after the long Easter weekend, with no major domestic data released to influence investor sentiment.
Across the Atlantic, the Richmond Federal Reserve's latest survey signaled a sharp deterioration in regional manufacturing conditions.
The index fell to -13 in April from -4 in March, well below expectations of -6 and marking the steepest contraction in factory activity since November 2024.
Its shipments index dropped to -17 from -7, while new orders declined sharply from 5 to -17.
Future expectations also weakened, with the shipments outlook falling to -20, compared to 7 a month earlier.
Backlogs continued to shrink, as the index measuring order backlogs plunged to -24 from -1, indicating that firms were working through existing orders to offset the downturn in demand.
Sainsbury’s rises as buyback begins, DCC in the red after healthcare sale
On London’s equity markets, J Sainsbury gained 2.1% after confirming the launch of a £200m share buyback programme, a move previously signalled in its recent results.
Bunzl rose 2.71% as the company rebounded from last week’s sharp sell-off triggered by a profit warning.
The stock received additional support after a regulatory filing showed a person closely associated with chief financial officer Richard Howes had purchased over £0.1m in shares, marking a show of confidence as shares traded below 2,500p for the first time since 2021.
Precious metals miners Fresnillo and Endeavour Mining rose 1.27% and 0.74% respectively, benefiting from another surge in gold prices, which climbed to fresh records.
Prices earlier exceeded $3,500, driven by ongoing concerns over the US economic outlook.
Both stocks eased from their session highs later in the day.
Insurer Admiral Group added 0.87% following news of the sale of its US motor insurance business to JC Flowers & Co.
The deal, coupled with Berenberg naming Admiral among its top insurance picks in Europe, helped support gains.
On the downside, DCC dropped 4.54% after announcing the sale of its healthcare division to HealthCo Investment for £1.05bn.
While the company said it planned to return surplus capital to shareholders, investors reacted cautiously to the disposal.
Flutter Entertainment slumped 5.17% and CRH fell 2.15%, with both companies under pressure due to uncertainty in the US, a key market for each.
Cyclical stocks Senior and DiscoverIE Group lost 5.86% and 7.14% respectively, amid renewed investor concerns over potential changes to US tariff policy.
Energy stocks also weakened, as oil prices slipped.
BP fell 0.61%, Shell declined 0.53%, and Ithaca Energy dropped 3.7%.
Reporting by Josh White for Sharecast.com.
Market Movers
FTSE 100 (UKX) 8,328.60 0.64%
FTSE 250 (MCX) 19,238.24 -0.06%
techMARK (TASX) 4,384.53 0.10%
FTSE 100 - Risers
Bunzl (BNZL) 2,370.00p 3.58%
Experian (EXPN) 3,532.00p 2.53%
Vodafone Group (VOD) 72.20p 2.44%
Sainsbury (J) (SBRY) 262.60p 2.26%
Aviva (AV.) 538.20p 2.20%
JD Sports Fashion (JD.) 76.60p 2.13%
London Stock Exchange Group (LSEG) 11,585.00p 1.98%
GSK (GSK) 1,362.00p 1.91%
Fresnillo (FRES) 1,039.00p 1.76%
Antofagasta (ANTO) 1,565.50p 1.75%
FTSE 100 - Fallers
DCC (CDI) (DCC) 4,754.00p -4.54%
Flutter Entertainment (DI) (FLTR) 16,835.00p -2.43%
CRH (CDI) (CRH) 6,294.00p -2.15%
Rentokil Initial (RTO) 342.80p -2.06%
Diploma (DPLM) 3,786.00p -1.56%
Pershing Square Holdings Ltd NPV (PSH) 3,362.00p -1.52%
Scottish Mortgage Inv Trust (SMT) 853.60p -1.32%
Ashtead Group (AHT) 3,894.00p -1.19%
Smiths Group (SMIN) 1,773.00p -1.17%
Alliance Witan (ALW) 1,102.00p -1.08%
FTSE 250 - Risers
Wizz Air Holdings (WIZZ) 1,555.00p 6.51%
ITV (ITV) 78.80p 4.37%
THG (THG) 29.04p 4.24%
Watches of Switzerland Group (WOSG) 364.20p 3.76%
Foresight Group Holdings Limited NPV (FSG) 353.00p 3.52%
Burberry Group (BRBY) 675.80p 3.30%
Pollen Street Group Limited (POLN) 700.00p 3.24%
Vistry Group (VTY) 610.60p 3.11%
IP Group (IPO) 41.65p 3.09%
Lion Finance Group (BGEO) 5,545.00p 3.07%
FTSE 250 - Fallers
Discoverie Group (DSCV) 522.00p -6.79%
Mobico Group (MCG) 56.95p -6.18%
Senior (SNR) 118.60p -6.02%
Auction Technology Group (ATG) 566.00p -5.82%
WH Smith (SMWH) 888.00p -4.62%
JTC (JTC) 807.00p -4.27%
Oxford Instruments (OXIG) 1,660.00p -3.94%
Indivior (INDV) 661.50p -3.92%
Clarkson (CKN) 3,120.00p -3.70%
Ithaca Energy (ITH) 135.20p -3.70%