The FTSE 100 closed higher, fueled by rising gold prices and positive company-specific news, overcoming concerns about renewed trade tensions and disappointing economic data. While inflation eased slightly, the index benefited from strength in gold miners and positive updates from some companies, offsetting negative news from others.
- The FTSE 100 closed 0.4% higher, marking a fifth straight day of gains.
- Strength in gold prices, hitting fresh record highs, boosted gold miners.
- Global sentiment was affected by renewed trade tensions, including US export curbs on Nvidia chips to China.
- UK inflation eased in March.
- Bunzl shares crashed 26% after the company cut its outlook.
- WH Smith reported lower-than-expected revenue.
- Barratt Redrow reaffirmed its full-year homebuilding target.
- Mitie upgraded its profit guidance and launched a £125 million share buyback.
The market experienced mixed signals. While certain sectors and companies displayed strength and positive outlooks, broader economic concerns and company-specific setbacks introduced volatility. The easing of inflation provided some respite, however, it was partially offset by global trade uncertainties and revised economic forecasts. These competing influences suggest an environment where careful stock selection and monitoring of both macroeconomic and microeconomic factors are crucial for investors.