UK stocks experienced a rebound on Tuesday, supported by optimism surrounding potential U.S.-Iran peace negotiations, despite the commencement of a blockade of Iran’s ports by the U.S. The blue-chip FTSE 100 index rose 0.1% to 10,593.65 points by 5:58, while the midcap FTSE 250 climbed 1.13%. UK stocks experienced an uptick on Tuesday, reflecting the robust performance of their European counterparts, following a report indicating that U.S. and Iranian negotiators might reconvene in Islamabad for discussions later this week.

Oil prices have declined to levels beneath $100 per barrel. Heavyweight banks gained 0.4%, with NatWest Group and Standard Chartered rising more than 1% and Barclays also contributing to the upward movement.

• Precious metal miners rose 2.6%, tracking gold and silver prices; Fresnillo increased by 3.5% and Hochschild Mining by 2.6% respectively.
• Industrial metal miners added 1.5%, with Rio Tinto rising 0.7% and Glencore up 1.7% after copper prices reached a one-month high.
• Energy stocks dipped 0.6%, with Shell and BP down more than 0.5%.
• Travel and leisure stocks gained 1.8% as oil prices slipped.
• Cruise operator Carnival was up 2.7%, while airlines also inched higher.
• EasyJet rose 2.5% and Wizz Air increased by 7.5%, respectively.

Davidoff cigarettes maker Imperial Brands slumped more than 7%, nearing a nine-month low after it flagged uncertainty for the year due to conflicts in the Middle East. Intertek opens new tab rose 11.8% to a one-year high after the product testing and certifications group said it is considering splitting its business.