FX.co ★ FTSE 100 Trades at Record Levels

The FTSE 100 experienced an increase of over 0.5%, surpassing 9,100 on Thursday, and stands poised to achieve another all-time high. This surge was fueled by optimism surrounding a potential trade agreement between the US and the EU. Reports indicate progress towards a 15% tariff agreement, with EU negotiators advocating for the inclusion of automobiles. President Trump has stated that he will not settle for tariffs below 15%, and there is potential for some tariffs to reach as high as 50%. Additionally, robust corporate updates contributed to the index's rise. Howden Joinery saw an 11% increase after reporting unexpectedly strong growth despite challenging conditions in the UK market. Reckitt's shares climbed 10% following an upgrade to its outlook, with Jefferies commending strong sales in core brands, even in less robust markets such as Latin America and China. BT's shares advanced by over 5% after announcing results indicating improved trends. On the economic front, UK services and composite PMI data fell short of expectations, signaling slower growth in the private sector. However, manufacturing data exceeded forecasts, with the contraction easing more than anticipated.