London’s FTSE 100 index opened flat on Tuesday as investors digested fresh developments in global trade policy, following U.S. President Donald Trump’s latest tariff announcements. Market participants remained cautious, awaiting further signals on upcoming trade negotiations.

As of 07:32 GMT, the FTSE 100 edged up by 0.01%, while the British pound strengthened by 0.3%, surpassing the $1.36 mark against the dollar. Elsewhere in Europe, Germany’s DAX rose 0.2%, while France’s CAC 40 slipped 0.2%.

Trump Adjusts Tariff Timeline, Targets Key Trade Partners

President Trump issued an executive order on Monday, extending the deadline for trade agreement negotiations to August 1. While the White House signaled a willingness to negotiate, Trump confirmed the deadline could shift depending on progress made with foreign governments.

He also outlined new tariff rates impacting 14 countries, warning that Japan and South Korea could face 25% duties on their exports if no agreement is reached.

SIG Shares Drop on Soft Demand; New CEO Announced

Shares in SIG PLC (LSE:SHI) fell over 3.4%, placing it among the biggest FTSE 250 decliners. The construction materials group reported subdued demand during the first half of 2025 and voiced caution for the months ahead.

Despite these challenges, SIG maintained its full-year profit guidance in line with market expectations and announced Pim Vervaat as the incoming CEO, effective later this year.

Glencore Gains on JPMorgan Upgrade

Shares in mining and trading giant Glencore (LSE:GLEN) rose 1.6% after J.P. Morgan reinstated its coverage of the stock with an “overweight” rating and a price target of £3.60 by December 2026, implying around 20% potential upside.

Analysts cited Glencore’s improving production outlook, capital return strategy, and operational flexibility as key strengths. However, the note also acknowledged the company’s recent underperformance, having trailed the MSCI Europe index by 45% since May 2024, driven in part by falling coal prices and softer earnings results.

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