FX.co ★ UK Shares Rise for 2nd Session

On Friday, the FTSE 100 index increased by 0.7%, extending Thursday’s impressive 3% gain, following an unexpected surge in UK GDP figures. February saw the British economy expand by 0.5%, significantly outperforming economists' expectations of a 0.1% increase. Mining stocks were the frontrunners, with gold producers Fresnillo and Endeavour experiencing notable rises of 7.2% and 6.3%, respectively, amid a continued rally in gold prices. Other major miners such as Glencore, Anglo American, and Rio Tinto also saw gains ranging from 2.4% to 4%. Conversely, BP's share price declined by 3% after the company issued a pessimistic production outlook, anticipating a reduction in upstream output for the first quarter compared to the previous period. Despite these gains, the FTSE 100 experienced a weekly decline of approximately 1.2%, attributed to last week's significant 7% drop. Simultaneously, trade tensions intensified between the US and China, with reciprocal tariff hikes escalating. The White House confirmed that the cumulative US tariff burden on Chinese imports has now reached 145%, while China's finance ministry announced an increase in tariffs on US products to 125%.