FTSE 100 Reaches Longest Winning Streak in Eight Years
(Reuters) -British stocks rose on Friday, propelling the FTSE 100 to its longest winning streak in eight years, as markets responded positively to signs of easing tensions in the U.S.-China trade dispute.
The blue-chip FTSE 100 index added 0.09%, extending its winning streak to 10 consecutive sessions and securing its second straight week of gains.
Meanwhile, the domestically focused FTSE 250 midcap index rose 0.5%, marking its third consecutive weekly advance.
China has exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified, in the clearest sign yet of Beijing's concerns about the trade war's economic fallout.
However, caution remained in markets after the publication of a Time magazine interview in which U.S. President Donald Trump said high tariffs on foreign imports a year from now would represent "total victory".
Separately, British retail sales unexpectedly rose 0.4% in March, capping the strongest quarter since 2021. But this economic bright spot appears temporary as consumer confidence fell in April to its lowest level since late 2023 amid rising energy costs.
Outlook statements this month from major British retailers have also been downbeat.
On the stock indexes, the aerospace and defence sector emerged as the leading performer, climbing 1.7%. Engineering firm Babcock International Group advanced 1.5% and was among the FTSE 100's top gainers after forecasting annual operating profit above market estimates.
Conversely, shares of Mobico Group plummeted 40.9%, making it the midcap index's worst performer, after announcing the sale of its U.S. school bus business for a lower-than-expected $608 million and projecting 2024 earnings at the bottom end of its guidance range.
The personal care and grocery stores index retreated 1.7% with Marks & Spencer dropping 2.2% as the retailer had paused orders via its UK & Ireland websites and apps on Friday following a reported cyber attack earlier this week.
(Reporting by Ragini Mathur in Bengaluru; Editing by Krishna Chandra Eluri, Anil D'Silva and Hugh Lawson)
