Top Stories
Top Stories
Markets

UK stocks close slightly higher amid thin trade; Just Eat up 4%

Key Points
  • President Donald Trump decided to delay a decision on metal tariffs for Europe, Canada and Mexico until June 1.
  • The Italian anti-establishment party Five Star Movement has called for a fresh election in June.

European equities closed mixed on Tuesday as most bourses were closed for the Labor Day public holiday.

European Markets: FTSE, GDAXI, FCHI, IBEX

The U.K.'s FTSE 100 closed provisionally 0.15 percent higher, with other prominent benchmarks — from the likes of Germany, France and Spain — all shut for the day.

Just Eat was among the top performers, up by 4 percent. The company reported a 24 percent increase in U.K. orders in the first quarter of the year and a jump in revenues of 49 percent.

BP shares rose 1.8 percent. The company said that profits surged 71 percent amid the rally in oil prices.

In other corporate news, the U.K. competition and markets authority submitted its opinion on the 21st Century Fox-Sky merger to the U.K. government on Tuesday. Culture Minister Matt Hancock is set to give his verdict on the takeover by June 13.

In terms of data, U.K. manufacturing PMIs came in below expectations at 53.9, against an expected 54.8. As a result, sterling fell to a 15-week low of $1.3683.

The poor data narrow the chances that the Bank of England will announce a rate hike Thursday.

On Wall Street, stocks fell as traders anticipated the release of Apple's latest quarterly results.

President Donald Trump decided to delay a decision on metal tariffs for Europe, Canada and Mexico until June 1. Meanwhile, Argentina, Australia and Brazil received a permanent exemption from the new metal duties.

Back in Europe, the Italian anti-establishment party Five Star Movement has called for a fresh election in June as the political impasse following the March election has not been overcome.