Investing.com -- British stocks opened higher on Thursday, buoyed by investor optimism after a federal court blocked U.S. President Donald Trump’s proposed reciprocal tariffs targeting key U.S. trade partners.
As of 0710 GMT, the blue-chip index FTSE 100 rose 0.1% and the British pound fell 0.03% against the dollar to 1.34.
European markets also advanced, with Germany’s DAX index up 0.5% and France’s CAC 40 rising about 1%.
U.S. court blocks Trump’s ‘liberation day’ tariffs
On Wednesday, the Court of International Trade determined that only Congress has the constitutional authority to manage trade with foreign nations, and that former President Trump’s use of emergency powers could not override this legislative control.
In a post on his social media platform, Truth Social, Trump said he was “on a mission from God” and that “nothing can stop what is coming.”
It is unclear if he was referring to the court ruling
Auto Trader FY profit and EPS climb
Auto Trader Group Plc (LON: AUTOA ) reported a 12% increase in basic earnings per share to 31.66 pence for the fiscal year ending March 31, alongside an 8% rise in operating profit to £376.8 million.
Total revenue climbed 5% to £601.1 million, driven by a 7% gain in the main Auto Trader business, which brought in £564.8 million.
Cohort reports in-line FY25 results
Cohort (LON: CHRT ) posted its fiscal 2025 results, aligning with market forecasts, as growth in revenue and profits was underpinned by solid performance in its Communications and Intelligence division and a partial-year boost from its new acquisition, EM Solutions.
The defense technology firm reported revenue of £245 million, in line with analyst projections, while adjusted operating profit stood at £27.6 million.
Adjusted earnings per share were 46.1 pence, also meeting expectations.
Hiscox names Peter Clarke as incoming Chair
Hiscox Ltd (LON: HSX ) announced Thursday that Peter Clarke has been named Chair designate, pending regulatory approval.
He is set to join the Board on June 1 and will assume the Chair role on July 1, succeeding Interim Chair Colin Keogh, who will step down from the Board.
(This story will be updated)