The FTSE 100 experienced a significant surge, closing 1.2% higher at 8,596 on Friday and achieving its 15th consecutive day of gains. This remarkable streak marks a new record for the index. The upward trend mirrored positive global market sentiment fueled by a robust US jobs report, optimism surrounding US-China trade discussions, and encouraging corporate earnings reports.
- The FTSE 100 closed 1.2% higher at 8,596 on Friday.
- It achieved a record 15-day streak of gains.
- The positive trend was influenced by a strong US jobs report, US-China trade optimism, and positive corporate earnings.
- IAG (+5.1%), Melrose Industries (+5%), and Rentokil (+3.9%) saw notable gains due to international/US market exposure.
- Shell added 2.2% after reporting strong Q1 profits and a $3.5 billion share buyback.
- NatWest also showed positive movement following its Q1 earnings report.
- The index rose approximately 2.2% for the week.
- The stock market will be closed on Monday for a bank holiday.
The data suggests a strong period of growth for the FTSE 100, driven by both internal and external factors. Positive economic data from the US, coupled with improved international trade prospects, have bolstered investor confidence. Solid corporate performance has further contributed to the upward momentum, indicating potential for continued growth in the near term. However, it’s important to acknowledge that market closures and external economic and political climates could still influence the stock market.