FX.co ★ FTSE 100 at Record Levels

On Thursday, the FTSE 100 experienced a 0.2% increase, reaching record highs of 8,880, and surpassing other European market performances. This rise came as disappointing UK economic data bolstered expectations for potential interest rate reductions from the Bank of England. In April, GDP fell by 0.3%, exceeding previous predictions and raising alarms about diminishing economic momentum. UK exports to the United States also saw a significant decline, attributed to previous tariff implementations. The disheartening growth figures have led to increased speculation that the Bank of England might consider an earlier-than-expected policy easing. Energy stocks benefited from the situation, with Shell and BP experiencing gains of 1.3% and 1.8%, respectively. Pharmaceutical powerhouses AstraZeneca and GlaxoSmithKline also saw increases, rising by 1.2% and 2%. Tesco's performance was boosted by robust sales growth, climbing approximately 1.5%. Globally, market sentiment was negatively affected by renewed trade tensions, as President Donald Trump announced plans to send notifications to major trading partners within the upcoming two weeks. These communications would outline unilateral tariffs, with a deadline set for July 9, cautioning those nations to comply with the terms or face potential repercussions.