Market Report

UK and European markets were slightly higher on Tuesday afternoon as investors digested the latest raft of tariffs introduced by U.S. President Donald Trump.

US Stocks were little changed as investors digested cautious commentary from Federal Reserve Chairman Jerome Powell on interest rates. Concerns remain over the direction of the economy amid U.S. tariffs and the possible escalation of a global trade war.

Investors are looking ahead to fresh inflation data in the form of the latest consumer price index report due out Wednesday, while the producer price index will go out on Thursday.

Gold prices slipped slightly as investors booked profits following a record high, yet remained bullish amidst fears of a global trade war spurred by U.S. President Donald Trump's new tariffs.

Oil extended gains on signs US sanctions are hampering Russian crude supplies. Russia’s crude output last month slipped further below the nation’s OPEC+ quota, people familiar with the data said. Chinese refiners are being offered Russian crude at bigger discounts as the sanctions take hold, while premiums for Middle Eastern crude surge.

In UK corporate news, sports betting and gaming group Entain tumbled as it said chief executive Gavin Isaacs has left the company with immediate effect after just five months.

Entain, which runs brands like Coral, Ladbrokes and Foxy Bingo as well part-owning the BetMGM brand in the US, did not disclose a reason for the abrupt departure, but said that the decision was "by mutual agreement".

Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "Details are scarce, and while Entain used the moment to reassure investors that it's on track to meet 2025 profit expectations, sudden leadership shake-ups rarely go down smoothly - questions will be flying."

Miners Anglo American, Glencore and Antofagasta all fell in tandem with copper prices.