Polar Capital Holdings PLC (AIM:POLR) and Scottish Mortgage Investment Trust PLC (LSE:SMT) climbed sharply on Monday, lifted by renewed optimism around US technology stocks after a breakthrough in trade talks between Washington and Beijing.
The rally came after the United States and China agreed to roll back tariffs on each other’s goods for an initial 90-day period.
The move has eased tensions in a long-running trade dispute that has weighed heavily on global markets, particularly the tech sector.
Nasdaq futures surged 3.3% following the announcement, while futures tied to the Dow Jones Industrial Average indicated gains of around 2% at the open.
Investors welcomed the deal as a potential turning point for global supply chains and corporate earnings, especially among high-growth US tech companies.
Polar Capital (up 4.4%) and Scottish Mortgage (4.2% higher), both of which have significant exposure to US technology giants, were among the biggest gainers on the UK market.
Analysts said a more stable trading environment and improved sentiment around tech valuations had triggered fresh buying across the sector.