London Stocks Surge Amid Banking and Consumer Gains
London stocks climbed on Friday, bolstered by banking and consumer shares. Despite new U.S. tariff threats, the FTSE 100 rose 0.8%, and the mid-cap FTSE 250 rose 0.4%. Banking stocks gained 1.7%, consumer shares increased, and the pharma and biotech sectors saw moderate growth following U.S. tariff announcements.
London's stock market experienced notable gains on Friday, primarily driven by banking and consumer discretionary shares. In spite of fresh tariff threats from President Trump, the FTSE 100 increased by 0.8%, recording a weekly rise, while the FTSE 250 also witnessed a 0.4% increase.
Banking stocks soared by 1.7%, bolstered by Citigroup's positive outlook on European banks. HSBC and NatWest led the charge with notable share increases. The travel and leisure sector also performed well, with InterContinental Hotels Group topping the FTSE 100 gainers following an upgrade from JPMorgan.
Oil giants Shell and BP added to the momentum with gains as oil prices rose. The British pharma sub-index experienced a 0.6% rise after tariffs were discussed, with hopes of favorable negotiations between the UK and the US on the matter.
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