FX.co ★ FTSE 100 Bounces Back Above 8000

The FTSE 100 experienced a significant surge of over 4.5% on Thursday, surpassing the 8,000 mark. This rally followed President Trump's announcement of a 90-day suspension on new tariff increases for most US trading partners. While tariffs on China saw an uptick, the overall decision alleviated global economic concerns and boosted market sentiment. The rally was primarily driven by gains in financial and commodity-related stocks. Notably, Anglo American's stock rose by over 8%, fueled by investor optimism regarding the proposed sale of its steelmaking coal division, despite recent fire-related setbacks at their site in Australia. On the other hand, Tesco's shares fell approximately 5% after advising that heightened competition within the UK grocery sector would likely impact future profits.