FX.co ★ FTSE 100 Records Best Day since 2020

On Thursday, the FTSE 100 index surged by 3.2%, marking its most significant increase since 2020. This rise followed President Trump's decision to pause new tariff increases for 90 days on most US trading partners, although tariffs on China were still raised. This broader policy shift assuaged global economic concerns and buoyed market sentiment. The rally was predominantly driven by financial and commodity-linked stocks. Anglo American experienced a notable increase of 7.7%, as investors remained optimistic about its plans to sell its steelmaking coal unit, despite a recent fire incident at its Australian site. Conversely, Tesco's shares fell by approximately 5% following a warning about mounting competition in the UK grocery sector, which could impact profits in the forthcoming year.