The FTSE 100 l advanced 51.82 points to 8,555.53 on Tuesday, shaking off the previous day’s tech sector turmoil. The broader FTSE 250 climbed 0.9% to 20,560.09, whilst European indices kept pace, with Frankfurt’s DAX up 0.6%.
Wall Street steadied after Monday’s bloodbath, triggered when Chinese startup DeepSeek’s cut-price AI model sent Nvidia shares plunging 17%, wiping $600 billion from its value. The chip maker staged a 4.7% pre-market recovery, whilst power stocks Constellation Energy and GE Vernova bounced back from their 21% and 22% respective falls.
Trump’s announcement of impending tariffs on foreign semiconductors, pharmaceuticals and metals added fresh market tension. Speaking in Miami, he warned manufacturers to “build your plant right here in America” or face levies in the “very near future”.
Travel food operator SSP served up strong numbers, rising 3.7% after reporting first-quarter sales growth of 11%. The Upper Crust owner expects full-year revenue between £3.7 billion and £3.8 billion, marking at least 7.8% growth.
Scottish soft drinks maker AG Barr bubbled up 5.3%, forecasting annual revenue around £420 million as flagship brands Irn-Bru, Rubicon and Boost delivered robust performance.
DIY retailer Wickes hammered out a 12% gain after returning to growth in the second half, projecting full-year profits at the upper end of £39.7 million to £44.0 million consensus. Pressure Technologies surged 10% on winning a US Navy submarine contract through General Dynamics.
Mining stocks capped FTSE gains, with Glencore down 0.8% and Rio Tinto sliding 0.5%, while Rentokil rose 2.9% following upbeat trading figures.
The Federal Reserve begins its two-day meeting, with analysts suggesting Trump’s protectionist policies and strong growth outlook could delay anticipated rate cuts.
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