StockMarketWire.com - UK stocks finished higher on Tuesday after Donald Trump said a US trade deal with China was 'fully intact', negating earlier claims by White House adviser Peter Navarro that a pact was 'over'.

The FTSE 100 found support from improved PMI readings throughout Australia, Europe and the US, signalling the beginning of a bullish economic bounceback, while the UK government's confirmation that further lockdown measures will be lifted from 4 July provided a boost.

Pubs, hotels and restaurants in England will be allowed to reopen early next month as Prime Minister Boris Johnson seeks to further relax the coronavirus-led lockdown and get the economy moving again.

At 16.35, the blue chip benchmark closed up 75.5 points, or 1.21%, at 6,320.12.

LARGE AND MID CAP RISERS AND FALLERS

JD Wetherspoon frothed up 11p to £11.25 on the news pubs will be allowed to reopen from early next month.

Property portal Rightmove fell 4.1% to 564.6p on announcing that it would continue to offer discounts to customers through August and September, taking another chunk out of its revenues.

Wealth manager St. James's Place firmed 1.6% to 955p after its funds under management increased in May on-year, boosted by positive net inflows.

Meat producer Cranswick fattened up 2.5% to £37.20 after it hiked its dividend on the back of a higher profit, underpinned by new contract wins and strong export demand.

SMALL CAP RISERS AND FALLERS

Cyber security consultancy NCC rallied 9.2% to 190.8p after it said its results for the year to 31 May will be 'comfortably ahead' of market expectations.

Footwear retailer Shoe Zone slipped 5.1% to 83p as it swung to a first-half loss and scrapped its interim dividend, while warning the impact of the Covid-19 crisis would likely be felt 'for several years.'

Musical equipment retailer Gear4music rallied 21.1% to 387.5p, having swung to a better-than-expected annual profit driven by margin improvement.

Tools, equipment and plant rentals group Speedy Hire added 7.2% to trade at 59.8p, even as it booked a 28% slide in annual profit owing to a write down on the value of its Geason Training business, offsetting a rise in sales.

Speedy Hire did not declare a final dividend, citing uncertainty caused by the Covid-19 crisis.

Healthcare and industrial engineer Scapa slumped 14% to 103.2p, having swung to a deep full-year loss, after it lost a key contract with medical products group ConvaTec.

Specialist engineering group TP jumped 6.5% to 8.2p on winning an initial contract worth £0.3m with Gulf Data International, an IT solutions provider and systems integrator based in Abu Dhabi.


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