FTSE Climbs Amid Banking Gains: London's Market on Edge for Earnings and Rate Decisions

The FTSE 100 rose on Tuesday, buoyed by gains in banking stocks such as HSBC, ahead of U.S. Federal Reserve's rate decision and a busy week of corporate earnings. Prime Minister Starmer visits China amid trade tensions, while U.S. big-tech earnings and Fed's policy meeting remain in focus.

The FTSE 100 experienced an uptick on Tuesday, driven primarily by the upward movement in banking stocks, including a significant boost from HSBC. This comes amidst a crucial week of corporate earnings reports and anticipation of the U.S. Federal Reserve's rate announcement.

At the same time, the precious metal miners index experienced a notable decline after reaching record highs in the previous session. In international affairs, Prime Minister Keir Starmer's visit to China marks a significant diplomatic move, as the UK seeks to reduce reliance on the U.S. given the ongoing trade tensions.

Traders are anxiously awaiting earnings from major tech firms in the U.S. Additionally, market sentiment is being shaped by the Fed's expected decision to hold interest rates steady. Retail prices in the UK have seen a sharp rise, potentially influencing the Bank of England's upcoming interest rate decisions.

(With inputs from agencies.)