Market Wrap / Trump's trade teaser

President Trump teasing a trade deal with the UK fostered risk-on sentiment Thursday, sending the S&P/ASX 200 higher by 0.2% to 8191.70 points. 

Positive momentum was also helped by a call for patience from Fed Chair Jerome Powell, as the central bank left interest rates on hold.

Financial stocks lagged, with ANZ down 1.9% as its first half cash earnings came in largely flat, amid persistent competition in the home loan market, and a rise in asset impairments offset lending growth. Westpac fell 1.7% as it traded ex-dividend.

The Macquarie Conference continued, with Coles’ chief executive Leah Weckert saying the supermarket giant will face minimal impact of US tariffs, which convinced investors to send the stock 1.1% higher. 

In the discretionary space, Guzman y Gumez leaped 3.7%, telling investors it expects to exceed profit guidance for the year. Light and Wonder however missed expectations on its first quarter revenue and the stock dropped 8.4%. 

And Orica shares jumped 7.4% after the company reported a 40% jump in first-half net profit.

Tonight, global markets will react to a potential trade deal between the UK and the US, just as the Bank of England hands down a decision on interest rates.