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(Sharecast News) - London equities ended the week higher on Friday, supported by improved sentiment surrounding US trade developments.
The FTSE 100 index rose 0.27% to close at 8,554.80 points, while the FTSE 250 added 0.23% to finish at 20,504.37 points.
In currency markets, sterling strengthened 0.56% on the dollar to trade at $1.3320, as it rose 0.16% against the euro, changing hands at €1.1816.
"European and US stock indices finished the week in positive territory as investors eyed this weekend's US-China trade talks in Geneva with cautious optimism," said IG senior technical analyst Axel Rudolph.
"Following the FTSE 100's longest winning streak and sterling's climb to a 38-month high against the dollar - signalling a robust return of global capital to UK markets - gains on Friday were mild as scepticism remained about the limited scope of the UK deal and the retention of a 10% tariff on British-made cars."
Rudolph noted that as China's current account surplus hit a new record, something US president Donald Trump was "likely to comment on" ahead of this weekend's trade talks, the country's export growth remained resilient, with imports dropping only slightly.
"While the dollar is on track for its third weekly gain, the oil price is expected to also end the week in positive territory as it bounces off its four-year low amid supply concerns and heightened tensions between India and Pakistan."
Retail footfall rises modestly in the UK, Trump flags possible easing of China tariffs
In economic news, UK retail footfall rose modestly in March and April, supported by warm weather and a late Easter.
According to the British Retail Consortium and Sensormatic IQ, total footfall edged up 0.2% year-on-year across the two months, with retail parks seeing the strongest growth at 2.7%.
Adjusted April data alone showed a 7.2% annual rise in footfall, with high streets and shopping centres posting gains of 5.3% and 5.6% respectively.
The boost was attributed to seasonal shopping and record sunshine levels across the UK.
"Adjusting for the late fall of Easter this year, footfall across March and April showed a small but positive trend," said Helen Dickinson, BRC chief executive.
"This reflected unseasonably warm and bright weather right across the UK.
"Retailers will be hoping this momentum continues into the summer months."
Elsewhere, Bank of England governor Andrew Bailey warned that the global economic outlook remained highly uncertain due to recent shocks and unpredictable trade policies.
Speaking in Reykjavik, Bailey said traditional forecasting models were under strain and called the current environment "less predictable" than in the past.
His comments followed the BoE's latest 25 basis point rate cut to 4.25%, a move narrowly approved by a divided Monetary Policy Committee.
Bailey welcomed the UK's new trade deal with the US, which included reductions in tariffs on steel and cars, but noted that broader global trade tensions, particularly US policies, could still threaten inflation and growth.
Meanwhile, US president Donald Trump indicated he may ease tariffs on Chinese imports, proposing a reduction from 145% to 80% ahead of weekend trade talks in Geneva.
On social media, Trump urged China to open its markets and signalled that further concessions may be possible, although he maintained a tough stance on trade policy.
"Tariffs far above 100%, as they currently have against each other, are clearly going to have a seriously negative effect on both countries' economies as supply chains are disrupted and there is a risk of empty shelves in US stores," said analysts at Danske Bank.
"Hence, there is a strong incentive to reach a deal to lower the tariffs.
"In our interpretation, markets are expecting tariffs to land around 60%, and there are possibilities for both positive and negative surprises relative to that."
BP jumps on takeover chatter, Airtel Africa rebounds
On London's equity markets, BP jumped 4.73% following reports that major global energy companies, including Shell, Chevron, and ExxonMobil, were exploring potential bids for the firm.
The Financial Times reported that TotalEnergies, Adnoc, and oil trader Vitol could also be interested in parts of BP's business.
Airtel Africa rebounded 4.43% after sharp losses the previous day, while British Airways parent IAG climbed 2.38% as it maintained full-year guidance and reported a surge in first-quarter operating profits, helped by strong revenue and lower fuel costs.
JD Sports Fashion rose 2.46%, buoyed by optimism over a new UK-US trade agreement and its transatlantic operations.
Travis Perkins was among the leading mid-cap risers with a 6.7% gain after naming SIG boss Gavin Slark as its incoming CEO.
SIG shares, by contrast, slumped 10.56% on the news.
Elsewhere, Urban Logistics REIT jumped 4.67% after agreeing to a £698.9m takeover by LondonMetric Property, which itself added 0.73%.
Rightmove edged up 0.75% after reaffirming its 2025 guidance, and Haleon rose 1.9% following an upgrade from Morgan Stanley.
Reporting by Josh White for Sharecast.com.
Market Movers
FTSE 100 (UKX) 8,554.80 0.27%
FTSE 250 (MCX) 20,504.37 0.23%
techMARK (TASX) 4,650.31 0.07%
FTSE 100 - Risers
BP (BP.) 372.30p 4.73%
Airtel Africa (AAF) 162.90p 4.42%
Associated British Foods (ABF) 2,107.00p 3.90%
Fresnillo (FRES) 1,061.00p 3.01%
JD Sports Fashion (JD.) 86.58p 2.46%
International Consolidated Airlines Group SA (CDI) (IAG) 297.20p 2.38%
Kingfisher (KGF) 303.00p 2.16%
Mondi (MNDI) 1,157.50p 1.94%
Haleon (HLN) 406.80p 1.90%
BT Group (BT.A) 165.25p 1.69%
FTSE 100 - Fallers
BAE Systems (BA.) 1,688.00p -3.32%
British American Tobacco (BATS) 3,135.00p -3.21%
Rightmove (RMV) 726.20p -2.39%
Babcock International Group (BAB) 840.50p -2.27%
Imperial Brands (IMB) 3,018.00p -2.04%
Flutter Entertainment (DI) (FLTR) 17,885.00p -1.73%
InterContinental Hotels Group (IHG) 8,634.00p -1.55%
Taylor Wimpey (TW.) 117.40p -1.43%
Next (NXT) 12,185.00p -1.34%
London Stock Exchange Group (LSEG) 11,300.00p -1.31%
FTSE 250 - Risers
Travis Perkins (TPK) 621.50p 6.86%
Urban Logistics Reit (SHED) 152.40p 4.67%
Playtech (PTEC) 333.00p 3.90%
Lion Finance Group (BGEO) 6,535.00p 3.65%
Watches of Switzerland Group (WOSG) 366.40p 3.62%
Bakkavor Group (BAKK) 188.00p 3.30%
Trustpilot Group (TRST) 239.80p 3.27%
Ithaca Energy (ITH) 140.20p 2.94%
Discoverie Group (DSCV) 600.00p 2.92%
Tate & Lyle (TATE) 586.50p 2.89%
FTSE 250 - Fallers
Auction Technology Group (ATG) 539.00p -6.42%
Mobico Group (MCG) 28.78p -5.52%
Renishaw (RSW) 2,580.00p -4.80%
AO World (AO.) 97.30p -3.85%
RHI Magnesita N.V. (DI) (RHIM) 3,015.00p -2.27%
Vistry Group (VTY) 610.80p -2.08%
Keller Group (KLR) 1,492.00p -1.97%
Crest Nicholson Holdings (CRST) 193.20p -1.93%
Kier Group (KIE) 159.00p -1.85%
Oxford Nanopore Technologies (ONT) 128.50p -1.83%
