What’s going on here?
UK stocks felt the pressure as President Trump announced a steep hike in US tariffs on aluminum to 25% – affecting industries from mining to travel.
What does this mean?
British stocks had a rough day with the FTSE 100 and FTSE 250 dipping by 0.1% after reaching record highs. The tariff surge spelled trouble for industrial metal miners, dragging them down by 2.5%. Home construction stocks slid 2.3%, with Bellway experiencing a significant hit of 5.5%, driven by affordability issues. BP saw a slight fall of 0.8% following a strategic overhaul and a hefty drop in annual profits by 35%. Travel stocks were also down 2%, with TUI’s booking slowdown affecting Wizz Air, EasyJet, and IAG. Entain’s sudden CEO departure rattled the company, resulting in a 10.1% decline, raising investor concerns about potential takeovers. Market participants are keenly awaiting a pivotal Bank of England speech, especially after suggestions of a rate cut to tackle policy uncertainties. With the US inflation report and UK GDP figures looming, expectations for future rate decisions hang…
