The FTSE 100 ended the day up 0.3%, despite a global market sell-off triggered by the latest escalation in Donald Trump’s trade war.
London’s benchmark index spent much of the session in the red, even as official data revealed UK inflation slowed more than expected in March.
On Wall Street, the S&P 500 was down 1%, the Nasdaq fell 0.9%, and the Dow Jones dropped 0.3%.
The sell-off was largely driven by a sharp decline in chip stocks after Trump suggested tariffs could be imposed on semiconductors and chip-making equipment.
Fawad Razaqzada, an analyst at City Index, remarked: “This serves as a stark reminder that geopolitics and technology are closely linked, with markets still responding to Washington’s actions, regardless of the consequences.”
He added: “The unpredictability of U.S. trade policy continues to plague markets, with this month’s stop-start approach making long-term positioning a risky endeavour, while volatility remains the dominant theme.”
FTSE 100 Recovers from Early Losses, Led by Mining Stocks
The FTSE 100 index has regained all of its early losses, recovering from a 0.8% drop this morning. The hardest-hit stock was distribution giant Bunzl, which fell 27% after revising its 2025 forecast. The company cited “operational challenges” within its largest North American business and flagged “significant uncertainties” related to tariffs, inflation, and economic growth.
On the upside, mining company Endeavour emerged as the top performer, rising by as much as 8% after investment firm BlackRock increased its stake to over 13%.
