Published by Global Banking & Finance Review®
Posted on April 14, 2025
2 min readLast updated: January 24, 2026
Add as preferred source on GoogleUK shares rose as Trump's tech tariff exemption calmed markets, boosting the FTSE 100 index and energy sector. Uncertainty remains over future tariffs.
(Reuters) - UK shares climbed on Monday in broad-based gains after U.S. President Donald Trump exempted smartphones and computers from steep Chinese tariffs, offering investors some relief following weeks of market volatility.
As of 1020 GMT, the blue-chip FTSE 100 index was up 1.8% and the midcap index gained 1.7%.
Trump, however, indicated that the exemptions are only temporary. His calculated strategy aims to revitalise domestic semiconductor manufacturing, with "special focus" tariffs expected within two months — separate from the reciprocal 125% duties already imposed on Chinese goods.
Persistent uncertainty surrounding tariff policies has disrupted markets worldwide, leading to a roughly 9% drop in the UK's blue-chip index from its record closing high.
The energy sector led gains across both indexes as oil prices edged higher, buoyed by the U.S. tariff exclusions and Chinese data showing a sharp rebound in March crude imports.
Energean topped the energy sector after its Israeli subsidiary secured a new 17-year gas sale and purchase contract with Kesem Energy. Its shares rose 5.3%.
Additionally, BP rose 5% after the company made an oil discovery in the Far South field in the U.S. Gulf of Mexico.
The midcap index saw electronics and technology stocks surge over 2% with Raspberry Pi, Kainos Group and Allianz Technology rising 5% to 7%.
Bank stocks also performed strongly, gaining 3%.
Oilfield services and engineering firm Wood Group jumped 11.5% after Dubai-based Sidara proposed a conditional offer comprising 35 pence per share and a possible $450 million cash injection.
Bucking the trend, fund manager Ashmore dropped 7% after reporting a 5% sequential decline in third-quarter managed assets, due to some large institutional clients redeeming their holdings near the end of the period.
On the policy front, Bank of England interest rate-setter Megan Greene said on Saturday it was unclear what the tariffs would do to UK inflation and that the unpredictable behaviour of the dollar was adding to the puzzle for the British central bank.
(Reporting by Ragini Mathur in Bengaluru; Editing by Shailesh Kuber)
The main topic is the rise of UK shares following Trump's tech tariff exemption, which calmed markets.
The energy sector led gains with oil prices rising, supported by U.S. tariff exclusions and increased Chinese crude imports.
The exemption led to a rise in UK shares, with the FTSE 100 index increasing by 1.8% and the midcap index by 1.7%.
Explore more articles in the Finance category
