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(Reuters) -British stocks closed higher on Tuesday amid optimism that U.S. tariffs might be less onerous than feared, with gains in the commodities and construction sectors leading the way.
The benchmark FTSE 100 rose 0.3%, ending a three-session losing streak. The midcap FTSE 250 was up 0.3%.
Investors are assessing the potential impact of impending reciprocal tariffs after U.S. President Donald Trump hinted on Monday that not all threatened levies scheduled for April 2 would be imposed and that some countries might get exemptions.
Industrial and precious metal miners gained 1.4% and 1.2% respectively, as safe-haven demand bolstered gold prices amid tariff-related uncertainty. [GOL/]
Energy stocks climbed 1.1% as oil prices rose for a fifth day. [O/R]
Shell was the biggest boost to the FTSE 100, up 1.5%, after increasing its shareholder distribution policy and lowering its spending outlook.
Construction and materials stocks led sectoral gains, up 1.5%. Construction firm Morgan Sindall surged 8.6% on an upbeat annual forecast.
Housebuilders rose 0.5% after the government pledged 2 billion pounds ($2.6 billion) to build up to 18,000 social and affordable homes in England.
The retail sector, however, fell 1.8% as British retailers reported their steepest sales drop in March for eight months.
Still, most focus remains on events later in the week.
UK inflation data is due on Wednesday, as is a budget update from finance minister Rachel Reeves in which the Office for Budget Responsibility is expected to roughly halve Britain's projected growth in 2025 from 2% to about 1%, according to the Financial Times.
U.S. Personal Consumption Expenditure data, the Federal Reserve's preferred inflation gauge, is also due later in the week.
(Reporting by Sanchayaita Roy and Ragini Mathur in Bengaluru. Editing by Shounak Dasgupta and Mark Potter)
