FX.co ★ FTSE 100 Ends Week on Positive Note

On Friday, the FTSE 100 saw an increase of over 0.5%, buoyed by rising stocks in the pharmaceutical and energy sectors, despite new tariff announcements from the United States. President Trump announced a 100% duty on branded and patented drugs effective from October 1, unless manufacturers establish production facilities within the US. Additional tariffs were set at 25% for heavy trucks, 50% for kitchen cabinets and vanities, and 30% for upholstered furniture. However, AstraZeneca experienced a 0.4% rise and GlaxoSmithKline (GSK) a 1.3% increase, as both companies already maintain substantial manufacturing operations in the US, thus minimizing their tariff exposure. Further reducing risk, AstraZeneca committed to a $50 billion investment in the US by 2030. Meanwhile, energy giants Shell and BP rose more than 1% as oil prices continued to climb over the week. In total, the FTSE 100 showed an approximate 0.7% advancement for the week.