British Stocks Surge Amid Positive Automotive Tariff News

British stocks saw gains on Tuesday, driven by a positive market response to news on automotive tariffs and notable increases in banking shares. Key contributors to this rise included HSBC and Howden Joinery. Meanwhile, crypto regulations loom as new draft laws are introduced by finance minister Rachel Reeves.

British stocks closed on a high note Tuesday, bolstered by significant gains in bank shares, as markets reacted favorably to automotive tariff developments.

The White House announced that President Donald Trump would sign an executive order designed to alleviate the impact of automotive tariffs, a move welcomed by investors. Consequently, the FTSE 100 index concluded its 12th consecutive session in positive territory, increasing by 0.6%.

HSBC led the charge with a 2.6% gain following a robust profit report and a $3 billion share buyback plan. Meanwhile, Travis Perkins soared 4.2% on strong revenue performance. Conversely, BP's shares dipped after reporting a steep 48% profits decline, while Associated British Foods faced a sharp drop amid disappointing earnings.

(With inputs from agencies.)