London, Tokyo stocks higher in quiet May Day trading

Stocks were higher in Britain and Japan on Tuesday while most other major markets were closed for public holidays. The White House's postponement of a decision on imposing hefty tariffs on U.S. imports of steel and aluminum products from some countries helped boost investor sentiment.

KEEPING SCORE: Britain's FTSE 100 rose 0.4 percent to 7,537, with shares in BP up 1.5 percent after upbeat earnings. Markets in France and Germany were closed, while futures augured a lackluster start on Wall Street. The future for the S&P 500 lost 0.1 percent and the future for the Dow was flat.

ASIA'S DAY: Japan's Nikkei 225 added 0.2 percent to 22,508.03 and Australia's S&P/ASX 200 rose 0.5 percent to 6,015.20. Stock markets in Hong Kong, Shanghai, Seoul and most cities in Southeast Asia were closed for public holidays.

TRADE: The White House said Monday it would delay its decision to impose tariffs on U.S. imports of steel and aluminum from the European Union, Canada and Mexico for 30 days, sidestepping a potential trade battle with Europe. The announcement comes ahead of the trade talks between U.S. and China later this week. While the decision avoids a potential trade war with the EU, the bloc said it also prolonged uncertainty for businesses waiting for a permanent exemption.

OIL: Benchmark U.S. crude fell 64 cents to $67.93 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 47 cents to $68.57 per barrel on Monday. Brent crude, the international standard, declined 56 cents to $74.13 per barrel in London.

CURRENCIES: The dollar rose to 109.66 Japanese yen from 109.33 yen. The euro slipped to $1.2028 from $1.2075.