The FTSE 100 fell 36 points to 9,720 on Thursday, bringing an end to its eight-day winning run, as investors took profits following a strong rally and digested global trade developments.
Across Europe, markets were broadly weaker, with the Stoxx Europe 600 down 0.2%, the French CAC 40 off 0.4%, Spain’s IBEX 35 down 0.5%, and Italy’s FTSE MIB easing 0.2%. The German DAX was a rare bright spot, inching 0.2% higher.
Oil Prices Ease as Markets React to Trump–Xi Trade Deal
Oil prices slipped on Thursday as investors assessed the impact of a newly announced trade agreement between US President Donald Trump and Chinese President Xi Jinping.
The two leaders met in South Korea earlier in the day, striking a one-year deal under which Washington will cut tariffs on Chinese imports from 57% to 47%. In return, Beijing has agreed to resume purchases of US soybeans, maintain exports of rare earth elements, and tighten controls on fentanyl trade.
Following the news, Brent crude futures fell 0.31% to $64.72 a barrel, while US West Texas Intermediate (WTI) edged down 0.33% to $60.28.
The modest decline suggests that investors remain cautious, with some sceptical that the new pact marks a definitive end to the long-running US–China trade war.
However, President Donald Trump struck an optimistic tone after the meeting, describing discussions with Xi as “fantastic” and emphasising their “great relationship,” raising hopes of a more stable phase in global trade relations.
