The UK’s blue-chip FTSE 100 experienced an uptick on Tuesday, driven by mining-related stocks as the prices of certain base metals increased. In contrast, oil prices saw a slight decline, fuelled by renewed optimism regarding a potential peace agreement between the U.S. and Iran. The blue-chip FTSE 100 index rose 0.4% to 10,377.4 points by 1129, poised to end a three-day losing streak, provided the gains are maintained. The midcap FTSE 250 climbed 0.8%.

• Industrial metal miners opened new tab led gains, with heavyweights including Glencore, opens new tab, Anglo American, opens new tab and Rio Tinto, opens new tab climbing around 2% each as copper prices climbed to a more than two-week high.
• Precious metal miners rose 1.8% as gold prices climbed around 1%.
• Data indicated that British lenders sanctioned the highest number of mortgages in 15 months during April, while consumer credit expanded at a rate that surpassed expectations. Shares of homebuilders advanced 1.5%.
• Oil and gas stocks dropped 0.8% as crude oil prices faced downward pressure following U.S. President Donald Trump’s announcement that discussions with Iran were continuing.
• Lebanon has also declared a partial ceasefire between Hezbollah and Israel.
• Among single stocks, British American Tobacco raised its forecast for revenue from smoking alternatives like vapes following a significant U.S. policy shift, yet maintained its group-wide guidance unchanged, resulting in a 2.9% decline in its shares.
• GB Group opens new tab slid 9.9% after the identity technology company clocked a yearly loss due to an impairment charge of 73.1 million pounds.
• Meanwhile, British government bond yields experienced a modest decline across the curve, while the pound saw a slight increase of 0.1% against the dollar.