London stocks opened slightly higher on Tuesday after Washington extended its tariff truce with Beijing, giving markets a modest lift ahead of a closely watched US inflation reading later today.
The FTSE 100 rose 0.2% to 9,151.05, the FTSE 250 gained 0.2% to 21,941.08, and the AIM All-Share was up 0.3% at 760.65.
President Donald Trump confirmed on Monday that higher tariffs on Chinese imports would remain suspended until 10 November, just hours before the existing trade ceasefire was due to expire.
The US and China had sharply escalated tariffs earlier this year, before a May agreement lowered the rate on targeted goods to 30% for US duties and 10% for China’s. Those reduced levels will now stay in place unless a new deal is reached sooner.
Attention will turn to US consumer price inflation at 13:30 UK time, with markets eyeing whether the data could shift expectations for a Federal Reserve rate cut in September.
A stronger-than-expected reading may keep pressure on policymakers to hold steady, though analysts argue recent labour market signals carry more weight than inflation prints affected by tariff-driven price moves.
In UK equities, Spirax surged over 15% after the thermal energy and fluid technology group reaffirmed full-year guidance despite a 30% drop in half-year pretax profit to £87.9 million. The company raised its interim dividend by 2.9% and said margins should improve on last year’s levels.
Housebuilder Bellway added 1.5% after reporting a 14% rise in completions to 8,749 homes and an increase in average selling prices to £316,000, both ahead of earlier guidance. The group said it expects FY25 profits to rise strongly and is finalising a refreshed capital allocation plan for release in October.
Rome Resources jumped 10% on “encouraging” drilling results at its Mont Agoma prospect, identifying tin and copper mineralisation across new and existing zones.