富时100指数周一下跌，因为在美国总统特朗普周三90天的关税暂停到期之前，贸易紧张局势再次出现。英国正急于与美国敲定一项取消英国钢铁关税的协议，担心关税可能会飙升至50%，威胁到本已脆弱的国内钢铁行业。能源股领跌，此前壳牌发布了悲观的第二季度展望，称天然气交易表现疲软。壳牌下跌近2.5%，英国石油下跌约2%。尽管哈利法克斯公布了积极的住房数据，但房屋建筑商仍对该指数构成压力。柿子和泰勒·温佩均下跌约1%。由于铜价和金价下跌，矿业公司也面临困境，嘉能可、英美资源集团、Endeavor和Fresnillo的股价下跌了0.4%至1.6%。

The FTSE 100 declined on Monday as trade tensions resurfaced ahead of the expiration of US President Trump’s 90-day tariff pause on Wednesday. The UK is rushing to finalize a deal with the US to eliminate tariffs on British steel, with fears the levy could jump to 50%, threatening an already fragile domestic steel industry. Energy stocks led losses after Shell issued a downbeat Q2 outlook, citing weaker gas trading performance. Shell fell nearly 2.5% and BP about 2%. Homebuilders weighed on the index despite positive housing data from Halifax. Persimmon and Taylor Wimpey both dropped around 1%. Miners also struggled due to falling copper and gold prices, with Glencore, Anglo American, Endeavour, and Fresnillo down between 0.4% and 1.6%.

英镑随经济数据下滑，关税不确定性成为焦点。英镑周一下跌，本周开局黯淡，经济数据报告可能为利率前景提供线索，而全球投资者则关注美国关税的最新截止日期。

Sterling slips with economic data, tariff uncertainty in focus.Sterling slipped on Monday in a lacklustre start to a week packed with economic data reports that could offer clues to the interest rate outlook, while globally investors watched the latest deadline on U.S. tariffs.

英国10年期国债收益率跌至4.542%，对英国财政前景的担忧日益加剧。财政大臣雷切尔·里夫斯暗示，秋季预算中可能会增税，以解决公共财政缺口，她告诉《卫报》，她不会排除这种可能性。此前，工党为避免内部叛乱而在福利改革上退缩，里夫斯承认这些让步是有代价的。在货币政策方面，市场仍预计英格兰银行将在9月份降息25个基点。与此同时，在特朗普总统确认新的互惠关税将于8月1日生效后，全球贸易紧张局势增加了压力。财政部长Scott Bessent指出，届时没有达成协议的国家的关税将恢复到4月2日的水平。特朗普还警告称，将对支持“金砖国家反美政策”的国家额外征收10%的关税。

The UK 10-year gilt yield fell to 4.542%, amid growing concerns over the UK’s fiscal outlook. Chancellor Rachel Reeves hinted at possible tax hikes in the autumn budget to address a public finance gap, telling The Guardian she wouldn’t rule them out. This follows Labour’s retreat on welfare reforms to avoid internal rebellion, with Reeves admitting there were costs to those concessions. On monetary policy, markets still expect the Bank of England to cut rates by 25 basis points in September. Meanwhile, global trade tensions added to pressure after President Trump confirmed that new reciprocal tariffs will take effect August 1. Treasury Secretary Scott Bessent noted tariffs would revert to April 2 levels for countries without a deal by then. Trump also warned of an extra 10% tariff on nations supporting the "anti-American policies of BRICS".

随着贸易紧张局势重新成为焦点，富时100指数周一小幅下跌，美国总统唐纳德·特朗普对互惠关税的90天暂停将于周三结束。能源股领跌，此前欧佩克+宣布下个月增产幅度大于预期，引发了对供应过剩的担忧。壳牌股价下跌近3%，英国石油公司股价下跌超过1%。壳牌还发布了第二季度的悲观更新，警告称天然气交易表现将明显弱于第一季度。矿业股也面临压力，嘉能可、英美资源集团、Endeavor和Fresnillo因铜价和金价下跌而下跌0.3%至1%。在国内方面，围绕财政政策的不确定性加剧了谨慎情绪，此前英国财政大臣雷切尔·里夫斯在接受《卫报》采访时拒绝排除在即将到来的秋季预算中加税的可能性。

The FTSE 100 traded slightly lower on Monday as trade tensions returned to focus, with the end of U.S. President Donald Trump’s 90-day pause on reciprocal tariffs looming on Wednesday. Energy stocks led losses after OPEC+ announced a larger-than-expected production hike for next month, raising concerns about oversupply. Shell dropped nearly 3% and BP fell over 1%. Shell also issued a downbeat Q2 update, warning that gas trading performance will be significantly weaker than in Q1. Mining stocks were under pressure as well, with Glencore, Anglo American, Endeavour, and Fresnillo slipping between 0.3% and 1% on falling copper and gold prices. On the domestic front, uncertainty surrounding fiscal policy added to the cautious mood, after U.K. Chancellor Rachel Reeves, in an interview with The Guardian, declined to rule out tax hikes in the upcoming autumn budget.