(Reuters) – Britain’s blue-chip index notched its 15th consecutive session of gains – its longest winning streak on record – as investors took heart from signs of easing global trade tensions.
The FTSE 100 rose 1.2%, also climbing above levels last seen before U.S. President Donald Trump’s tariff announcement that rattled global markets in early April.
Bolstered by optimism that major U.S. trading partners will negotiate trade deals, and a solid-so-far first quarter earnings season, albeit with underlying caution, the blue-chip index remains just 3% below its record closing high touched on March 3 this year.
On the day, Shell gained 2.2% after the oil major beat analyst expectations for first-quarter net profit and maintained its share buyback programme despite falling oil prices and lower refining margins than last year.
The energy index rose 1.6%, boosted by Shell’s results.
NatWest rose 1.3% after the bank reported a forecast-beating 36% rise in first-quarter profit, thanks to healthier margins on deposits and higher loan balances.
Standard Chartered reported a 10% profit rise, though it joined rival HSBC in warning that higher tariffs would weigh on credit quality. The bank’s shares ended flat.
On the tariff front, Beijing on Friday said it was “evaluating” an offer from Washington to hold talks over Trump’s 145% tariffs on China in a sign that trade tensions between the world’s two largest economies might be easing.
The domestically focused FTSE 250 ended 0.52% higher, posting its eighth consecutive daily rise and fourth straight weekly advance.
SSP Group gained 3.5% after Financial Times reported activist investor Irenic Capital Management has built a 2% stake in the food outlet operator.
Ukraine-focused miner Ferrexpo surged for the second consecutive day, leading gains on the midcap index with a 7.9% rise, boosted by the U.S.-Ukraine minerals deal.
(Reporting by Ragini Mathur in Bengaluru; Editing by Vijay Kishore and Tomasz Janowski)
