Market News
Pound, UK stocks take some heart from US/UK trade deal
By Amanda Cooper and Samuel Indyk
- Summary
- UK big cap stocks slip after US-UK trade deal
- US, UK agree on trade terms for autos, metals, pharma among others
- 10% tariff on UK exports to the US remains
- Sterling lifted earlier by surprise BoE vote on rates
LONDON, May 8 (Reuters) - The pound edged up on Thursday while British stocks struggled to find a foothold after U.S. President Donald Trump and UK Prime Minister Keir Starmer unveiled an eagerly awaited trade deal.
UK markets got some support from the Bank of England's widely expected decision to cut its main interest rate by a quarter of a point to 4.25%, although a surprising three-way split among policymakers highlighted how Trump's tariffs continue to cloud the economic outlook.
