FX.co ★ FTSE 100 Set for Monthly Gain

On Friday, the FTSE 100 index experienced an increase of over 0.5%, positioning it for its first monthly increase since February and marking its most significant rise since January. Leading the charge, M&G shares soared by more than 6.5%, reaching nearly a four-year high, following Japan’s Dai-ichi Life's agreement to acquire a 15% stake in this UK insurer and asset management firm. Notable companies such as AstraZeneca, HSBC, Shell, Unilever, BP, and Rolls-Royce also recorded gains ranging from 0.4% to 1%. Conversely, mining stocks fell behind due to declining iron ore prices, prompted by worries over weakened steel demand in China, with Rio Tinto and Anglo American each seeing a decline of approximately 0.8%. At the same time, Bank of England officials issued cautious remarks. Alan Taylor attributed recent inflation to temporary factors and highlighted potential risks arising from new tariffs. Governor Andrew Bailey emphasized the need for a more robust UK-EU trade agreement to foster growth and mitigate disruptions related to Brexit.