Bank of England governor Andrew Bailey warns Trump trade wars are creating unpredictability; UK restricts steel imports – as it happened

Bailey says the BoE doesn’t know how trade wars will play out, as UK brings in new restrictions on steel imports

• Oil prices sink after Iranian strike on US airbase reduces fears of market disruption

Travel and leisure stocks across Europe are rallying too.

This has pushed up the STOXX Europe travel and leisure index by 4.1% in early trading, which Reuters reports it the biggest one-day jump since 10 April.

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