UK stocks recover after sell-off triggered by hefty tariffs
April 8 (Reuters) - Britain's main indexes recovered from their lowest levels in more than a year on Tuesday, as investors look for any indication of Washington softening its stance on the aggressive tariffs that have roiled global markets over the last few days.
The blue-chip FTSE 100 (.FTSE), opens new tab rose 1.4%, as of 1000 GMT, after falling for four consecutive sessions.
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The domestically focused midcap index (.FTMC), opens new tab also gained 2.5%, after hitting its lowest point since November 2023 in the previous session.
Markets had been unsettled by U.S. President Donald Trump's announcement of sweeping trade tariffs last week, stoking fears of a global recession.
Trump said on Monday he would talk to China, Japan and other countries over the tariffs, but was not looking at a pause on the duties.
Separately, data from funds network Calastone showed British investors had piled into U.S. stocks in the weeks before Trump's tariff announcement.
During the day, 94 of the FTSE 100 stocks gained.
UK's aerospace and defence index (.FTNMX502010), opens new tab rose more than 5%, with Babcock International Group (BAB.L), opens new tab leading the gains on the blue-chip index, followed by Rolls-Royce (RR.L), opens new tab and BAE Systems (BAES.L), opens new tab.
The energy index (.FTNMX501010), opens new tab climbed 3% as oil prices rebounded from a near four-year low in the previous session.
Industrial metal miners (.FTNMX551020), opens new tab gained 2%, with Glencore (GLEN.L), opens new tab advancing 3% after indigenous groups in Peru stopped blocking access to the company's Antapaccay copper mine following an agreement with government officials.
Company-wise, Howden Joinery (HWDN.L), opens new tab rose 2% after the kitchen and joinery supplier said Jackie Callaway would succeed Paul Hayes as the chief financial officer.
Investment firm 3i Group (III.L), opens new tab has paused the sale process of pet food maker MPM to assess the impact of U.S. tariffs, Bloomberg News reported on Monday. Its shares rose 3%.
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