FX.co ★ FTSE 100 Outperforms Continental Europe

On Monday, the FTSE 100 index rose by over 0.5%, reaching a new peak close to 9000, a performance that surpassed other European indices adversely affected by the imposition of 30% tariffs by Trump on imports from the EU and Mexico. The index's upward movement was propelled by the strength of safe-haven and pharmaceutical stocks. Fresnillo saw a surge of more than 2% as the heightened prices for gold and silver increased the attractiveness of precious metals in the face of global trade uncertainties. AstraZeneca's stock similarly advanced by approximately 2% following the favorable trial outcomes of its investigational hypertension medication Baxdrostat, which the company acquired through its $1.8 billion acquisition of CinCor in 2023. Conversely, oil giants Shell and BP experienced declines exceeding 1%, influenced by the drop in crude prices amidst concerns about diminishing global demand sparked by rising trade tensions.