Aston Martin Lagonda Global Holdings PLC (LSE:AML) shares revved up 12% and the FTSE 250 jumped over 1% after it was confirmed that UK and US will announce a trade agreement on Thursday.
US President Donald Trump published a social media post overnight that flagged a "big news conference tomorrow morning at 10:00 am... concerning a major trade deal with representatives of a big and highly respected country".
Media reports said the deal was with the UK and was expected to include British companies getting tariff relief on exports of steel, aluminium and cars, in return for a lower rate of the digital services tax on US tech giants, plus concessions on food and agriculture imports.
Outstanding issues that needed to be thrashed out in the past week were on pharmaceuticals and films, both of which Trump has targeted with tariff threats in recent days and weeks.
UK officials were reported to be targeting a narrow range of sectors in order to get a deal agreed before they begin formal negotiations with the EU over a separate European agreement.
Trump issued a further post on Thursday saying the deal was with the UK and was "full and comprehensive".
While Keir Starmer has ruled out reducing food production standards to enable more trade in US agricultural products, Sky News reported that "some concessions" have been offered on food and agriculture imports.
Offices of both leaders confirmed that they will make separate statements on the deal.