FX.co ★ FTSE 100 Rises Led by JD Sports

On Friday, the FTSE 100 index experienced an uptick of over 0.5%, primarily driven by a notable nearly 7% surge in JD Sports, following an optimistic forecast from its significant partner, Nike. JD Sports, which depends heavily on Nike, had been under pressure due to sluggish demand for sportswear and the impact of US tariffs. However, Friday's rally helped reduce its losses for the year to 9%. Additionally, banking stocks saw a rise amidst a series of positive developments, such as the reduced threat of conflict in the Middle East and progress in US-China trade talks. Standard Chartered saw an increase of over 2.5%, Barclays climbed by more than 2%, and HSBC Holdings rose by nearly 1%. Similarly, automotive stocks, including Rolls-Royce, which increased by 1.7%, benefited from the news. Other significant gainers in the market included AstraZeneca, Shell, Unilever, and Relx, each rising between 0.8% and 1.6%. Despite these daily gains, the FTSE 100 recorded its second consecutive weekly decline, marking the first occurrence of such a trend since April.