(Reuters) -British stocks closed higher on Thursday, after U.S. President Donald Trump dialled back duty rates on goods from many countries for 90 days, giving respite to investors following the global market rout.
The blue-chip FTSE 100 rose 3%, posting its biggest one-day jump since March 2022.
The midcap FTSE 250 index climbed 3.5%, notching up its biggest single-day gain since July 2023.
Trump on Wednesday suspended most of the heftiest tariffs less than 24 hours after they kicked in, however, the White House said a 10% blanket duty on most U.S. imports remained in effect.
In response, the European Union on Thursday also put on hold for 90 days its first countermeasures against Trump’s levies.
However, Trump increased tariffs on Chinese imports to 125% from 104%, and Beijing’s countered with 84% levies on U.S. goods, keeping investors on edge amid fears of…
