FTSE 100 LIVE: Stocks mixed as investors eye trade talks and Trump tax bill
A positive open for the UK's blue-chip index came off the back of its best first half performance since 2021.
Wall Street had strong finish to the first half on Monday, with the Nasdaq (^IXIC) and S&P 500 (^GSPC) notching fresh record highs. Reports of progress on US trade deals with Canada and the European Union boosted the mood on Wall Street, even as the July 9 deadline for the resumption of Trump's "reciprocal" tariffs looms.
Trump said on Monday afternoon he was willing to impose a higher tariff rate on Japan, saying the country refused to accept US rice exports.
Meanwhile, US Treasury secretary Scott Bessent warned on Monday warned "recalcitrant" countries that their tariff levels could soon snap back to "Liberation Day" levels.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "Trade talk is heating up again as President Trump's 90-day pause on reciprocal tariffs nears its end. Markets are starting to see that Trump's bark is worse than his bite, with news that the White House might dial back its tariff plans to avoid reigniting a global trade war the latest example of a softer touch."
Trump's "big, beautiful bill" is also in focus, as the US Senate makes its final push to advance the legislation with a marathon vote on amendments underway. A final vote could come as soon as Tuesday even as last-minute changes have pushed the bill's price tag up by nearly $1tn (£726.5m).
The UK's FTSE 100 (^FTSE) rose 0.2% to 8,779 points on Tuesday morning.
The DAX (^GDAXI) hovered around the flatline, while the CAC 40 (^FCHI) in Paris dipped 0.2%.
The pan-European STOXX 600 (^STOXX) was little changed.
Oil prices fell, with brent crude (BZ=F) down 0.4% at $66.48 a barrel. West Texas Intermediate (CL=F) declined 0.5% to $64.81 per barrel.
In the US, futures attached to the Dow Jones Industrial Average (YM=F) slid 0.1%, the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) slipped 0.2%.
In terms of currency movements, the pound rose 0.2% against the dollar (GBPUSD=X) to $1.3759, while sterling was up 0.3% against the euro (GBPEUR=X) to trade at €1.1678.
Trending tickers: Tesla, Robinhood, Oracle, Apple
UK house prices fall in June after stamp duty holiday ends
Meat and fresh veg drive shop inflation higher for first time in a year
How much money do you need to retire?
Sainsbury's (SBRY.L) sales rose by 4.9% in the first quarter, according to a trading update released on Tuesday.
Simon Roberts, CEO of Sainsbury's, said that the supermarket had continued to build on its competitive position by improving prices against key competitors.
In addition, he said the supermarket's Taste the Difference premium range got a boost from the sunny spring weather, with sales up 20% as customers snapped up its deli and picnic products.
Sainsbury's continued to expect to deliver retail underlying operating profit of around £1bn and retail free cash flow of more than £500m for the current fiscal year.
Dan Coatsworth, investment analyst at AJ Bell (AJB.L), said: "After years of being too expensive for lower-income households and not posh enough to woo wealthier individuals from Waitrose, it's clear Sainsbury's has finally found its groove. Its latest trading update shows a business in fine health, with robust sales growth across the board.
"Rival supermarkets will be looking at Sainsbury's performance with some concern. If Sainsbury's is doing well, it means other grocers might not be doing as well. Sainsbury's is taking market share and that means rivals will need to pull their socks up. This is a highly competitive industry and grocers need to be on their toes at all times."
The UK's competition regulator has given the go-ahead to insurer Aviva's (AV.L) plan to buy rival Direct Line (DLG.L) for around £3.7bn.
In a statement, published Tuesday, the UK's Competition and Markets Authority (CMA) said it had cleared the anticipated acquisition, following an inquiry into the deal.
Shares in Aviva and Direct Line were little changed on Tuesday morning, following the announcement.
Yahoo Finance UK's Lucy Harley-McKeown writes:
"Prices in UK shops headed higher in June, bouncing back for the first time in nearly a year due to hikes in the cost of fresh produce such as meat, fruit and vegetables.
Food inflation increased to 3.7% year on year in June, against growth of 2.8% in May. The three-month average was 3.1%, the data showed.
Overall UK shop price inflation increased to 0.4% year-on-year in June, against a decline of -0.1% in May. This was above the three-month average of 0.1%, the BRC said.
Non-food inflation remained in deflationary territory, down -1.2% year-on-year in June, against a decline of -1.5% in May. This was above the three-month average of -1.4%."
Read more on Yahoo Finance UK
Yahoo Finance UK's Pedro Goncalves writes:
"UK house prices unexpectedly fell by 0.8% in June amid signs of a slowdown in the property sector after the end of the stamp duty holiday. Across the UK, the average house price in June was £271,619.
Regionally, Northern Ireland remained the strongest performer, though it did see a slowing in annual price growth to 9.7%, from 13.5% in Q1. An average house here came in at £208,686.
Scotland recorded a 4.5% annual rise to £189,259, while Wales saw a 2.6% increase to £212,969. Average property prices in England climbed 2.5% to £309,570."
Read more on Yahoo Finance UK
Hello from London. Vicky McKeever here, bringing you the latest business and market news throughout the day.
European stocks had a mixed start to trading this morning, with US trade talks in focus, as well as president Donald Trump's "big, beautiful bill".Trending tickers: Tesla, Robinhood, Oracle, Apple
UK house prices fall in June after stamp duty holiday ends
Meat and fresh veg drive shop inflation higher for first time in a year
How much money do you need to retire?
Sainsbury's (SBRY.L) sales rose by 4.9% in the first quarter, according to a trading update released on Tuesday.
Simon Roberts, CEO of Sainsbury's, said that the supermarket had continued to build on its competitive position by improving prices against key competitors.
In addition, he said the supermarket's Taste the Difference premium range got a boost from the sunny spring weather, with sales up 20% as customers snapped up its deli and picnic products.
Sainsbury's continued to expect to deliver retail underlying operating profit of around £1bn and retail free cash flow of more than £500m for the current fiscal year.
Dan Coatsworth, investment analyst at AJ Bell (AJB.L), said: "After years of being too expensive for lower-income households and not posh enough to woo wealthier individuals from Waitrose, it's clear Sainsbury's has finally found its groove. Its latest trading update shows a business in fine health, with robust sales growth across the board.
"Rival supermarkets will be looking at Sainsbury's performance with some concern. If Sainsbury's is doing well, it means other grocers might not be doing as well. Sainsbury's is taking market share and that means rivals will need to pull their socks up. This is a highly competitive industry and grocers need to be on their toes at all times."
The UK's competition regulator has given the go-ahead to insurer Aviva's (AV.L) plan to buy rival Direct Line (DLG.L) for around £3.7bn.
In a statement, published Tuesday, the UK's Competition and Markets Authority (CMA) said it had cleared the anticipated acquisition, following an inquiry into the deal.
Shares in Aviva and Direct Line were little changed on Tuesday morning, following the announcement.
Yahoo Finance UK's Lucy Harley-McKeown writes:
"Prices in UK shops headed higher in June, bouncing back for the first time in nearly a year due to hikes in the cost of fresh produce such as meat, fruit and vegetables.
Food inflation increased to 3.7% year on year in June, against growth of 2.8% in May. The three-month average was 3.1%, the data showed.
Overall UK shop price inflation increased to 0.4% year-on-year in June, against a decline of -0.1% in May. This was above the three-month average of 0.1%, the BRC said.
Non-food inflation remained in deflationary territory, down -1.2% year-on-year in June, against a decline of -1.5% in May. This was above the three-month average of -1.4%."
Read more on Yahoo Finance UK
Yahoo Finance UK's Pedro Goncalves writes:
"UK house prices unexpectedly fell by 0.8% in June amid signs of a slowdown in the property sector after the end of the stamp duty holiday. Across the UK, the average house price in June was £271,619.
Regionally, Northern Ireland remained the strongest performer, though it did see a slowing in annual price growth to 9.7%, from 13.5% in Q1. An average house here came in at £208,686.
Scotland recorded a 4.5% annual rise to £189,259, while Wales saw a 2.6% increase to £212,969. Average property prices in England climbed 2.5% to £309,570."
Read more on Yahoo Finance UK
Hello from London. Vicky McKeever here, bringing you the latest business and market news throughout the day.
European stocks had a mixed start to trading this morning, with US trade talks in focus, as well as president Donald Trump's "big, beautiful bill".
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