FTSE Soars Amid Global Optimism and Key Stock Gains
FTSE 100 and FTSE 250 indices saw significant gains, with the latter reaching a three-year high. Global optimism over earnings and potential U.S. rate cuts boosted stocks, especially in the technology sector. British PM Keir Starmer's welfare reforms faced opposition, while JD Sports and Unilever made notable stock advances.
The FTSE 100 and FTSE 250 indices surged on Friday, driven by worldwide optimism regarding earnings, favorable trade policies, and lenient monetary policies. The gains propelled the FTSE 250 to a three-year high, closing up 1.1%, while the FTSE 100 also rose by 0.7%.
Global markets have been ascending due to reduced Middle East tensions, U.S.-China trade negotiations, and potential interest rate cuts from the Federal Reserve. The S&P 500 and Nasdaq notably hit intraday records, buoyed by technology stocks and soft economic data suggesting further rate cuts.
In the UK, Prime Minister Keir Starmer encountered difficulties over proposed welfare cuts within his Labour Party. Meanwhile, JD Sports climbed significantly following Nike's favorable forecast, and Unilever made strategic plays in personal care, while the precious metals index declined amidst geopolitical stability.
(With inputs from agencies.)
ALSO READ
Trump Extends TikTok Deadline Amid Ongoing U.S.-China Trade Talks
UK Stock Market Surges Amid Global Optimism and Trade Talks
Market Surge Fueled by Dovish Fed Outlook and U.S.-China Trade Talks
Indian Markets Up as Middle East Tensions Ease and Global Optimism Grows
Indian Stock Indices Thrive Amid Global Optimism
Google News