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FTSE 250 movers: Cyclicals surge on tariff pause; Ruffer Investment slips
(Sharecast News) - FTSE 250 (MCX) 18,699.09 4.52%
The FTSE 250 was sharply higher after US President Donald Trump's U-turn on tariffs, pausing them for 90 days and cutting the rate to 10% for countries that had not retaliated against America, with the notable exclusion of China where he increased levies to 125%.
Despite the announced pause and the positive tone in markets, Kathleen Brooks, research director at XTB, pointed out that the trade war between China and the US "is still in full swing, and tariff levels between the two largest global economies have never been higher".
"Reports suggest that China could announce stimulus measures to boost its economy, however, they have not been forthcoming so far. Chinese and Hong Kong stocks also rallied today, although by less than European and US peers. Chinese stocks will benefit from the rest of the world avoiding recession if reciprocal tariffs from the US are moderated, which is why they are joining in the global equity market rally on Thursday."
Cyclical stocks, those sensitive to macroeconomic changes, led the risers. Trustpilot, International Workplace Group, Watches of Switzerland and Bridgepoint Group all surged.
Ruffer Investment Trust, which believes the US market is set for a shock, fell 3.73%.
Market Movers
FTSE 250 - Risers
Trustpilot Group (TRST) 212.60p 13.39% International Workplace Group (IWG) 170.60p 13.36% Watches of Switzerland Group (WOSG) 367.80p 12.61% Bridgepoint Group (Reg S) (BPT) 257.20p 11.92% Diversified Energy Company (DEC) 891.00p 10.89% Spectris (SXS) 2,108.00p 10.42% Genus (GNS) 1,708.00p 10.34% TBC Bank Group (TBCG) 4,080.00p 9.83% Great Portland Estates (GPE) 291.50p 9.79% Carnival (CCL) 1,298.50p 9.76%
FTSE 250 - Fallers
Ruffer Investment Company Ltd Red PTG Pref Shares (RICA) 271.00p -3.73% ITV (ITV) 65.30p -1.36% Mony Group (MONY) 185.40p -0.59% Rathbones Group (RAT) 1,440.00p -0.55% BH Macro Ltd. GBP Shares (BHMG) 395.50p -0.13% Tami Senior Securitisation 2 Ltd Cls A-2 Mb Fxd Rte Nts 31/12/23 (Reg S) (BP00) 0.00p 0.00% TI Fluid Systems (TIFS) 199.40p 0.00% International Distribution Services (IDS) 365.40p 0.05% AO World (AO.) 93.00p 0.11% Renewi (RWI) 855.00p 0.12%
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