Investing.com -- British stocks rebounded at Tuesday’s open after the holiday on the previous day, following U.S. President Trump’s announcement over the weekend to delay the 50% tariff on the European Union.

As of 0705 GMT, the blue-chip index FTSE 100 gained 0.8% and the British pound fell 0.1% against the dollar to 1.35.

Meanwhile, DAX index in Germany gained 0.2%, the CAC 40 in France fell 0.2%.

Trump delays 50% EU tariffs

U.S. President Donald Trump said Sunday he would delay his proposed 50% tariff on EU imports until July 9, following a call with European Commission President Ursula von der Leyen.

The announcement marked a shift from Friday, when Trump said the tariffs would begin June 1 due to stalled trade talks.

Von der Leyen welcomed the move, saying the EU is ready to advance negotiations “swiftly and decisively.”

U.K. food inflation accelerates in May,

Food prices in the U.K. continued to climb for a fourth straight month in May, the British Retail Consortium said on Tuesday.

Annual food inflation rose to 2.8% last month, up from April’s 2.6%, and exceeded the three-month average.

Whitbread appoints new Chair

Whitbread PLC (LON: WTB ) has appointed Christine Hodgson as its new chair, replacing Adam Crozier, who is stepping down.

AstraZeneca (LON: AZN ) wins EU backing for bladder cancer treatment

AstraZeneca PLC (ST: AZN ) announced Tuesday that its bladder cancer therapy, Imfinzi, has received a positive recommendation in the European Union.

The company added that the treatment continues to show good tolerability, with no new safety concerns identified.

(This story will be updated)