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UK stocks climb on oil, staples boost as Trump's Iran deadline looms
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UK stocks climb on oil, staples boost as Trump's Iran deadline looms
Apr 7, 2026 4:35 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

April 7 (Reuters) - UK shares advanced on Tuesday

following the long weekend break, boosted by energy and consumer

staples stocks ahead of U.S. President Donald Trump's deadline

for Iran to open the Strait of Hormuz.

Iran showed no sign of agreeing to Trump's demand that it

open the strait by the end of Tuesday or suffer massive attacks

on its civilian infrastructure, in what would be the biggest

escalation yet of the war.

The blue-chip FTSE 100 index rose 0.1% to 10,444.1

points by 1042 GMT, while the midcap FTSE 250 climbed

0.8%.

* Trump has given Iran until 8 p.m. in Washington to end its blockade of Gulf oil.

* Trading in the UK picks up on Tuesday after a long weekend

break where markets were shut for the Good Friday and Easter

Monday holidays.

* The blue-chip index is set for its fifth straight day of

gains, briefly hitting its highest level in over a month.

* Media stocks were among the top gainers,

jumping 2.5%; shares of advertising firm WPP ( WPP ) climbed

7.4%.

* Oil and gas climbed 0.7%; shares of

giants BP and Shell were up 0.9% and 0.5%,

respectively.

* Consumer staples heavyweights Unilever ( UL ) and

British American Tobacco ( BTI ) rose 1% each. Both were among

the biggest boosts to the FTSE 100.

* Aerospace and defence lagged, declining

1.8%; shares of Rolls-Royce were down 2.4%.

* On the data front, a survey showed that businesses in

Britain's services sector reported the biggest month-on-month

jump in costs in March since 2021.

* A U.S. inflation reading due later this week would be on

investors' radar for more clues on the Federal Reserve's

interest rate path.

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