The United States and China appeared close Friday to a "phase one" deal to de-escalate a trade war that has caused tensions between the superpowers and threatened to wobble the global economy.

London stocks and the British pound jumped Friday after an election triumph for Conservative Prime Minister Boris Johnson that analysts said will bring clarity to Brexit proceedings and unlock stronger economic growth.

Expectations for a U.S.-Chinese trade truce rose Friday, though Beijing accused Washington of unfairly attacking its economy and said a settlement to their costly, 17-month-old conflict must be "mutually beneficial."

A senior Trump administration official said an announcement regarding China would take place Friday. The official spoke on condition of anonymity to discuss internal planning.

A crushing election victory for Britain's Conservative Prime Minister Boris Johnson sent delight through UK markets on Friday, with the pound the prime beneficiary.

London's FTSE 100 index rallied 0.9 percent to 7,335.23 points in early morning deals as investors gave their verdict, reversing initial opening losses.

President Donald Trump tweeted Thursday that the United States is on the verge of easing the China trade war, days before new tariffs are due to kick in between the world's two largest economies.

The British pound dipped Thursday as Britons voted in a vital general election that seeks to determine the future of Brexit.

Eurozone stock markets meanwhile edged higher as dealers awaited the latest interest rate decision from the European Central Bank (ECB) at 1245 GMT.

Beijing and Washington are keeping in "close" contact over a potential phase-one deal to resolve their trade war, China's commerce ministry said Thursday, days before another possible tariffs salvo.

Negotiators are still trying to hammer out a mini agreement, but tensions could escalate again if President Donald Trump goes through with a planned increase in import levies on Sunday.

Energy giant Saudi Aramco's share price surged on Thursday, the day after its market debut, briefly raising the company's worth to a $2 trillion milestone before falling back.

The British pound bounced back Wednesday ahead of a UK general election, even as a fresh poll predicted Prime Minister Boris Johnson's ruling Conservatives would win a much smaller majority than previously forecast.

The Maldives is seeking a "diplomatic" solution to restructure its Chinese debt as the small but strategically located atoll nation struggles with repayments, the foreign ministry has said.