The UK's FTSE 100 index climbed 1.2% on May 2nd, registering its 15th consecutive daily gain and setting a new record for the longest streak of rises in its history. It is now just 3% below its March peak. Global trade tensions have eased, with signs of the US and China reopening negotiations on tariffs, and better - than - expected corporate earnings have boosted market sentiment and risk appetite.
UK Stocks Surge with Record - Long Rally, Led by Energy and Finance Sectors
The UK's FTSE 100 index climbed 1.2% on May 2nd, registering its 15th consecutive daily gain and setting a new record for the longest streak of rises in its history. It is now just 3% below its March peak. Global trade tensions have eased, with signs of the US and China reopening negotiations on tariffs, and better - than - expected corporate earnings have boosted market sentiment and risk appetite. Energy giant Shell saw its first - quarter net profit top expectations and maintained its share buy - back program, driving the energy sector to rise 1.6%. NatWest Bank's profit increased by 36% due to improved deposit profits and loan growth, with its share price rising 1.3%. Although Standard Chartered Bank warned that tariffs could impact credit quality, its profit still increased by 10%. Meanwhile, the FTSE 250 index also rose 0.52%, marking its eighth consecutive day of gains.
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In terms of individual stocks, food operator SSP Group saw a 3.5% increase as it was 增持 by activist investors. Ukrainian mining company Ferrexpo soared 7.9% after being stimulated by the US - Ukraine mineral deal.
Analysts pointed out that the market is currently focused on the progress of US - China negotiations and the resilience of corporate earnings in the short term. However, institutions like Standard Chartered have warned that the potential risks of trade frictions may limit the upside potential of the market.
