$USDC European stocks are operating in positive territory this Thursday, amid a wave of corporate earnings and reports of an imminent trade deal between the United Kingdom and the United States.

The pan-European Stoxx 600 index is up 0.9%, extending initial gains after a rate cut by the Bank of England. The UK's FTSE 100 is up 0.4%, while France's CAC 40 and Germany's DAX each gained 1.2%.

According to reports, the UK is set to sign a trade deal with the United States, becoming the first country to do so after the world's largest economy announced severe "reciprocal" tariffs against allies and rivals alike in April.

In London, the Bank of England cut its key interest rate by 25 basis points to 4.25% this Thursday. The bank's Monetary Policy Committee voted 5 to 4 in favor of the cut. Two of its members voted for a 50 basis point reduction, while another two preferred to keep the rate unchanged.

This decision was made after Sweden's Riksbank decided to keep its benchmark rate unchanged, citing uncertainty in the global economy as a direct consequence of U.S. President Donald Trump's trade policies. A day earlier, Norway's central bank, Norges Bank, also kept its interest rate unchanged, signaling that "trade barriers have become more extensive and there is uncertainty about future trade policies".