Britain's Market Surge Amid U.S. Job Growth Reassurance

British equities saw broad-based gains on Friday, spurred by an encouraging U.S. jobs report that eased fears of an economic downturn in the world's largest economy. UK's blue-chip FTSE 100 and midcap FTSE 250 indexes both recorded weekly advances.

The markets globally showed a positive response after the data indicated a slowdown in U.S. job growth for May, amidst uncertainties such as President Trump's tariffs. Despite this, robust wage growth provided reassurance that the economic expansion remains steady. Janet Mui of RBC Brewin Dolphin emphasized that the data suggests the U.S. economy is stable and not heading towards a recession.

The FTSE 100 saw a 0.3% rise while the FTSE 250 increased by 0.4%, with heavyweight banks leading the gains. Conversely, the FTSE 350's precious metal miners lagged with a decline, and shares in the Aerospace and Defence sector, boosted earlier by Prime Minister Starmer's defence spending commitment, retracted slightly. This week, global markets faced volatility due to shifting trade dynamics, including increased tariffs from Trump, albeit with a UK exemption, and direct discussions between Trump and China's Xi Jinping.

(With inputs from agencies.)