FX.co ★ FTSE 100 Trades at Record Levels

The FTSE 100 climbed 0.9% on Thursday, reaching an unprecedented peak of 8950, fueled by a robust upswing in mining stocks. Anglo American surged by 4.7%, Rio Tinto increased by 3.8%, Glencore rose 3.7%, and Antofagasta advanced 2.7%. This uptick followed the confirmation from US President Donald Trump that a 50% tariff on copper imports would be implemented starting August 1. The announcement, made via Truth Social, caused volatility in copper markets and heightened concerns regarding potential trade disruptions. Key details regarding enforcement and the range of products affected remain ambiguous, adding to the prevailing uncertainty. Additionally, Trump levied a 50% tariff on commodities from Brazil, attributing the decision to political factors and expressing criticism of Brazil's leadership. Separately, WPP saw a 2.6% recovery after naming a new CEO, following a 19% plunge in its stock the previous day due to a profit warning.