FX.co ★ UK Shares Rise on Monday

The FTSE 100 index saw a 0.5% increase on Monday, gaining alongside global markets due to optimism surrounding potential changes to US tariff strategies. The prevailing sentiment is that the tariff announcement scheduled for April 2nd is likely to be more focused in its approach, rather than a broad, indiscriminate application. Advisors to President Trump have suggested that, while the tariffs will be imposed across several countries and regions, exemptions are possible and there are no immediate plans to target specific sectors.

In the UK, the spotlight is on Chancellor Rachel Reeves's forthcoming Spring Statement. Leading up to the announcement set for Wednesday, Reeves has committed to reducing 10,000 civil service positions as part of a comprehensive plan to cut government operating expenses by 15%. Markets are also keenly anticipating upcoming Purchasing Managers' Index (PMI) data releases.

Among sectors, miners were at the forefront of gains, with Anglo American experiencing growth of over 3.5%. Similarly, companies such as Antofagasta, Rio Tinto, Fresnillo, and Glencore saw increases ranging from 2.3% to 2.9%. The banking sector also performed robustly, with Standard Chartered, Barclays, and Lloyds each advancing approximately 2%.