Global Markets Rise as US-China Tariff Tensions Ease

Global markets experienced an upswing on Monday, driven by a breakthrough in trade negotiations between the United States and China. The two economic giants reached an agreement to temporarily lower tariffs, providing a welcome reprieve for investors concerned about ongoing trade disputes.

Britain's blue-chip FTSE 100 index climbed by 0.35%, while the midcap index saw a more significant increase of 1%. The tariff reductions, effective for 90 days, were decided during bilateral talks in Geneva. As a result, industrial metal miners like Glencore and Anglo American soared on the FTSE 100, while Ferrexpo topped midcap performers.

While the luxury goods sector also saw gains, the healthcare industry faced headwinds. The healthcare subindex fell by 2.4% after US President Donald Trump announced a move to lower prescription prices. Meanwhile, Britain's foreign minister convened European counterparts to discuss Ukraine support and regional defense, with PM Keir Starmer's EU summit approaching.

(With inputs from agencies.)