British Equities Face Mixed Fortunes Amid U.S. Tariff Ruling and Domestic Pressures

On Thursday, British equities faced a mixed trading day as utilities' losses negated the positive market sentiment following a U.S. court's decision to block many of President Donald Trump's tariffs.

The FTSE 100 index dipped by 0.1%, while the FTSE 250, focused on domestic shares, climbed 0.3%. This market movement came on the heels of a ruling from the U.S. Court of International Trade that found Trump exceeded his authority with broad tariffs, although some industry-specific tariffs remained in place.

Adding to market dynamics, U.S. economic adviser Kevin Hassett indicated optimism with upcoming trade deals despite the court ruling. Bond-proxy utilities were prominently affected, with National Grid and Severn Trent experiencing notable declines. The British government also aims to amalgamate pension schemes into 'megafunds' to stimulate the economy, amidst declining business confidence in the services sector due to rising cost pressures.

(With inputs from agencies.)