UK shares experienced an uptick on Tuesday, with the FTSE 250 reaching a level not seen in nearly three months. This movement came as investors resumed activity following a lengthy weekend, responding to indications of advancement in negotiations aimed at resolving the U.S.-Iran conflict.

The blue-chip FTSE 100 rose 0.6% to 10,533.50 points by 1020, reaching a one-month high, while the FTSE 250 climbed 0.9% to its highest since March 3, and is on track for a fourth consecutive session of gains.

• The U.S. and Iran have indicated advancements on a memorandum of understanding that has the potential to cease hostilities between the two countries and facilitate the resumption of shipping through the obstructed Strait of Hormuz.
• U.S. Secretary of State Marco Rubio stated that negotiating a deal with Iran could “take a few days” following the recent U.S. strikes in southern Iran.
• Major lenders HSBC, Barclays, and Lloyds were among the top boosts to FTSE 100, while Rio Tinto and Glencore rose about 1% each, as metals prices firmed.
• Shares of oil majors BP and Shell dipped 1% and 0.5%, respectively, tracking weaker crude prices.
• The FTSE 100 index concluded a four-week decline on Friday, as softer economic data diminished expectations regarding a potential rate hike by the Bank of England.
• However, the latest report indicated that British shop price inflation accelerated in May due to disruptions and elevated energy costs stemming from the war.
• Among individual stocks, Kingfisher rose nearly 4% after the home improvement retailer maintained its full-year profit outlook despite a drop in first-quarter underlying sales.
• Melrose Industries opened new tab fell 4% after an overheating chemical tank at its GKN Garden Grove facility in California triggered an emergency response and evacuation orders over the weekend.