What’s going on here?
London’s FTSE 100 climbed by 0.90% as investor optimism grew on the back of positive remarks from the US Treasury Secretary about improving US-China trade relations.
What does this mean?
Even amid the UK’s economic shakiness, with business optimism plunging to its lowest since October 2022, the FTSE 100 managed to rise respectably. This was fueled by hopes of easing tensions in the US-China trade dispute, which cheered international investors. Yet, the S&P Global UK PMI survey hinted at trouble, as the composite index slid to 48.2 in April, signaling economic contraction driven by dwindling private sector output. Challenges are mounting with falling exports and escalating costs from National Insurance and minimum wage increases. On the bright side, Croda International’s shares soared 8.19% after reporting stronger sales, while Fresnillo’s shares dropped by 5.20% following a decline in silver production.
Why…
