UK Stocks Surge as Trump Delays EU Tariffs
British stocks rose broadly as U.S. President Donald Trump's announcement to delay tariffs on EU imports boosted investor sentiment. FTSE 100 and FTSE 250 indices saw gains, with major boosts from aerospace, defense, and luxury brands. IMF's revised growth forecast for Britain to 1.2% also contributed to positive market responses.
In a notable market move, British stocks closed higher on Tuesday driven by widespread optimism among investors. This surge came after U.S. President Donald Trump postponed tariffs on European Union imports, fostering confidence in transatlantic trade stability.
Marking its strongest level since May 5, the FTSE 100 rose by 0.7%, while the mid-cap FTSE 250 saw an even more robust gain of 1.1%. The market remained optimistic as Trump indicated positive developments regarding trade talks with Europe.
Aerospace and defense sectors led the charge with a 2.6% increase, following additional sanctions on Russia. Meanwhile, luxury brands and specialty chemicals firms saw substantial gains, although precious metal miners dipped due to falling gold prices. Market attention now turns to upcoming U.S. Federal Reserve speeches and economic data.
(With inputs from agencies.)
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