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UK stocks dipped on Tuesday following a bank holiday on Monday, as ongoing tariff worries and their economic implications took centre stage, with focus turning to the impending policy decisions from the Bank of England and the U.S. Federal Reserve. Investors had recent optimism regarding the easing of U.S.-China trade tensions, but the lack of details has left markets confused about the statements emerging from the White House. Over the weekend, U.S. President Donald Trump imposed a 100% tariff on films made outside the U.S., and on Monday, he indicated plans to introduce pharmaceutical tariffs in the next fortnight. Attention is now turning to the Bank of England's policy decision, with a 25-basis-point rate cut anticipated on Thursday. The accompanying statement will be scrutinised, as some investors urge a more rapid rate-cut strategy in response to the global economic effects of Trump's tariffs. In the meantime, U.S. Federal Reserve officials are expected to keep interest rates steady at their meeting on Wednesday.

Single Stock Stories & Broker Updates:

• BP increased 2.8% to 360.2p, making it the top gainer on the FTSE 100. Reports indicate Shell is considering acquiring BP, with the decision hinging on BP's stock performance, which is down about 11% this year, while Shell is up 0.4%. Shell fell 1.1% to 2,458p and is among the top losers on the index. BP is rated "hold" with a median price target of 410p, according to LSEG data.

• Anglo American shares fell 1.5% to 2103.5p, making it the biggest loser on the FTSE 100. Peabody Energy may pull out of buying Anglo's Australian coal assets due to issues at Moranbah North mine, but Anglo believes the mine stoppage isn't a material adverse change and is working with Peabody to finalise the deal. Year-to-date, AAL is down about 9.6%.

• Shares of Argentex drop 91% to an all-time low of 4.73p after resuming trading on AIM due to a liquidity crisis. A £20 million revolving credit facility from IFX Payments has been arranged, while CFO Guy Rudolf is set to resign. IFX recently acquired AGFX. YTD, the stock is up 33% as of April 17.

• Shares of AlphaGroup International rose 7.7% to 3,025 pence after rejecting an all-cash proposal from Corpay. The company did not provide a reason for the rejection. Corpay has until May 30 to submit a formal bid or withdraw, with the possibility of deadline extension. The stock has increased 29.3% this year.

• Shares of Associated British Foods up 1% at 2,071 p as it confirms talks with Endless LLP regarding a potential deal for its Allied Bakeries business, though no certainty on terms. Sky News noted possible regulatory scrutiny, as ABF seeks strategic options for its struggling Allied Bakeries. Stock up 0.34% YTD.

Technical & Trade View

FTSE Bias: Bullish Above Bearish below 8700

• Primary support 8500
• Below 8500 opens 8250
• Primary objective 8300
• Daily VWAP Bullish
• Weekly VWAP Bullish

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