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Business Recorder
28-04-2025
- Business
- Business Recorder
FTSE 100 marks longest winning streak in eight years
LONDON: British stocks rose on Friday, propelling the FTSE 100 to its longest winning streak in eight years, as markets responded positively to signs of easing tensions in the US-China trade dispute. The blue-chip FTSE 100 index added 0.09%, extending its winning streak to 10 consecutive sessions and securing its second straight week of gains. Meanwhile, the domestically focused FTSE 250 midcap index rose 0.5%, marking its third consecutive weekly advance. China has exempted some US imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified, in the clearest sign yet of Beijing's concerns about the trade war's economic fallout. However, caution remained in markets after the publication of a Time magazine interview in which US President Donald Trump said high tariffs on foreign imports a year from now would represent 'total victory'. Separately, British retail sales unexpectedly rose 0.4% in March, capping the strongest quarter since 2021. But this economic bright spot appears temporary as consumer confidence fell in April to its lowest level since late 2023 amid rising energy costs. Outlook statements this month from major British retailers have also been downbeat. On the stock indexes, the aerospace and defence sector emerged as the leading performer, climbing 1.7%. Engineering firm Babcock International Group advanced 1.5% and was among the FTSE 100's top gainers after forecasting annual operating profit above market estimates. Conversely, shares of Mobico Group plummeted 40.9%, making it the midcap index's worst performer, after announcing the sale of its US school bus business for a lower-than-expected $608 million and projecting 2024 earnings at the bottom end of its guidance range. The personal care and grocery stores index retreated 1.7% with Marks & Spencer dropping 2.2% as the retailer had paused orders via its UK & Ireland websites and apps on Friday following a reported cyber attack earlier this week.
Yahoo
25-04-2025
- Business
- Yahoo
UK shares rise as US-China trade tensions show signs of easing
(Reuters) -British stocks rose on Friday as markets responded positively to signals of easing tensions in the U.S.-China trade dispute, while better-than-expected British retail sales data further bolstered investor sentiment. As of 1005 GMT, the blue-chip FTSE 100 index was up 0.1%, extending its winning streak to ten consecutive sessions and securing its second straight week of gains. Meanwhile, the domestically focussed midcap index gained 0.4%, positioning itself for its third consecutive weekly advance. China has begun granting exemptions to its recent 125% tariffs on U.S. imports, suggesting Beijing may be concerned about economic consequences of the trade dispute. Washington has also shown signs of wanting to de-escalate tensions, bringing relief to markets as investors hope for a reduction in trade hostilities between the world's two largest economies. Separately, British retail sales unexpectedly rose 0.4% in March, capping the strongest quarter since 2021. However, this economic bright spot appears temporary as consumer confidence fell in April to its lowest level since late 2023 amid rising energy costs. Outlook statements this month from major British retailers have also been downbeat. On the stock indexes, the aerospace and defence sector emerged as the leading performer, climbing 2%. Engineering firm Babcock International Group advanced 3% and was among the FTSE 100's top gainers after forecasting annual operating profit above market estimates. Travel and Leisure stocks also climbed 1%. Conversely, shares of Mobico Group plummeted 27%, making it the midcap index's worst performer, after announcing the sale of its U.S. school bus business for a lower-than-expected $608 million and projecting 2024 earnings at the bottom end of its guidance range. The personal care and grocery stores index retreated 1% with consumer goods company Unilever dropping 2% after Deutsche bank slashed its price target on the stock. Sign in to access your portfolio
Reuters
25-04-2025
- Business
- Reuters
UK shares rise as US-China trade tensions show signs of easing
April 25 (Reuters) - British stocks rose on Friday as markets responded positively to signals of easing tensions in the U.S.-China trade dispute, while better-than-expected British retail sales data further bolstered investor sentiment. As of 1005 GMT, the blue-chip FTSE 100 index (.FTSE), opens new tab was up 0.1%, extending its winning streak to ten consecutive sessions and securing its second straight week of gains. China has begun granting exemptions to its recent 125% tariffs on U.S. imports, suggesting Beijing may be concerned about economic consequences of the trade dispute. Washington has also shown signs of wanting to de-escalate tensions, bringing relief to markets as investors hope for a reduction in trade hostilities between the world's two largest economies. Separately, British retail sales unexpectedly rose 0.4% in March, capping the strongest quarter since 2021. However, this economic bright spot appears temporary as consumer confidence fell in April to its lowest level since late 2023 amid rising energy costs. Outlook statements this month from major British retailers have also been downbeat. On the stock indexes, the aerospace and defence sector (.FTNMX502010), opens new tab emerged as the leading performer, climbing 2%. Engineering firm Babcock International Group (BAB.L), opens new tab advanced 3% and was among the FTSE 100's top gainers after forecasting annual operating profit above market estimates. Travel and Leisure stocks (.FTNMX405010), opens new tab also climbed 1%. Conversely, shares of Mobico Group (MCG.L), opens new tab plummeted 27%, making it the midcap index's worst performer, after announcing the sale of its U.S. school bus business for a lower-than-expected $608 million and projecting 2024 earnings at the bottom end of its guidance range. The personal care and grocery stores index (.FTNMX452010), opens new tab retreated 1% with consumer goods company Unilever (ULVR.L), opens new tab dropping 2% after Deutsche bank slashed its price target on the stock.
Yahoo
08-04-2025
- Business
- Yahoo
UK stocks recover after sell-off triggered by hefty tariffs
(Reuters) - Britain's main indexes recovered from their lowest levels in more than a year on Tuesday, as investors look for any indication of Washington softening its stance on the aggressive tariffs that have roiled global markets over the last few days. The blue-chip FTSE 100 rose 1.4%, as of 1000 GMT, after falling for four consecutive sessions. The domestically focused midcap index also gained 2.5%, after hitting its lowest point since November 2023 in the previous session. Markets had been unsettled by U.S. President Donald Trump's announcement of sweeping trade tariffs last week, stoking fears of a global recession. Trump said on Monday he would talk to China, Japan and other countries over the tariffs, but was not looking at a pause on the duties. Separately, data from funds network Calastone showed British investors had piled into U.S. stocks in the weeks before Trump's tariff announcement. During the day, 94 of the FTSE 100 stocks gained. UK's aerospace and defence index rose more than 5%, with Babcock International Group leading the gains on the blue-chip index, followed by Rolls-Royce and BAE Systems. The energy index climbed 3% as oil prices rebounded from a near four-year low in the previous session. Industrial metal miners gained 2%, with Glencore advancing 3% after indigenous groups in Peru stopped blocking access to the company's Antapaccay copper mine following an agreement with government officials. Company-wise, Howden Joinery rose 2% after the kitchen and joinery supplier said Jackie Callaway would succeed Paul Hayes as the chief financial officer. Investment firm 3i Group has paused the sale process of pet food maker MPM to assess the impact of U.S. tariffs, Bloomberg News reported on Monday. Its shares rose 3%. Sign in to access your portfolio
Reuters
08-04-2025
- Business
- Reuters
UK stocks recover after sell-off triggered by hefty tariffs
April 8 (Reuters) - Britain's main indexes recovered from their lowest levels in more than a year on Tuesday, as investors look for any indication of Washington softening its stance on the aggressive tariffs that have roiled global markets over the last few days. The blue-chip FTSE 100 (.FTSE), opens new tab rose 1.4%, as of 1000 GMT, after falling for four consecutive sessions. here. The domestically focused midcap index (.FTMC), opens new tab also gained 2.5%, after hitting its lowest point since November 2023 in the previous session. Markets had been unsettled by U.S. President Donald Trump's announcement of sweeping trade tariffs last week, stoking fears of a global recession. Trump said on Monday he would talk to China, Japan and other countries over the tariffs, but was not looking at a pause on the duties. Separately, data from funds network Calastone showed British investors had piled into U.S. stocks in the weeks before Trump's tariff announcement. During the day, 94 of the FTSE 100 stocks gained. UK's aerospace and defence index (.FTNMX502010), opens new tab rose more than 5%, with Babcock International Group (BAB.L), opens new tab leading the gains on the blue-chip index, followed by Rolls-Royce (RR.L), opens new tab and BAE Systems (BAES.L), opens new tab. The energy index (.FTNMX501010), opens new tab climbed 3% as oil prices rebounded from a near four-year low in the previous session. Industrial metal miners (.FTNMX551020), opens new tab gained 2%, with Glencore (GLEN.L), opens new tab advancing 3% after indigenous groups in Peru stopped blocking access to the company's Antapaccay copper mine following an agreement with government officials. Company-wise, Howden Joinery (HWDN.L), opens new tab rose 2% after the kitchen and joinery supplier said Jackie Callaway would succeed Paul Hayes as the chief financial officer. Investment firm 3i Group (III.L), opens new tab has paused the sale process of pet food maker MPM to assess the impact of U.S. tariffs, Bloomberg News reported on Monday. Its shares rose 3%.
