Stocks Rise Amid U.S.-EU Trade Deal and UK-Economic Developments
London's stock indexes rose on Monday, with the FTSE 100 and FTSE 250 benefiting from a U.S.-EU trade deal imposing a 15% tariff on EU goods. UK Prime Minister Starmer's meeting with President Trump in Scotland further heightened economic attention. Meanwhile, sectoral gains were noted in the automobile, real estate sectors, and GSK's medicinal deal, while declines affected industrial miners.
On Monday, London's primary stock indexes experienced a slight uptick, as investors digested news of a trade agreement between the United States and the European Union. The FTSE 100 climbed by 0.1%, and the FTSE 250 saw a 0.3% rise, with automobile and real estate sectors contributing to the gains.
The U.S.-EU trade framework, announced on Sunday, includes a 15% tariff on most EU goods and mandates a $600 billion investment by the bloc into the U.S. economy. U.K. Prime Minister Keir Starmer is set to meet with President Donald Trump in Scotland to discuss this development, alongside the ongoing hunger crisis in Gaza.
In company news, GSK's shares rose after announcing a $500 million agreement with China's Jiangsu Hengrui Pharmaceuticals. Conversely, Ocean Wilsons Holdings saw a significant loss following an all-share merger plan with Hansa Investment. The Bank of England is expected to slow its bond-selling pace, with traders anticipating a rate cut next month.
(With inputs from agencies.)
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