The UK’s benchmark FTSE 100 index closed higher on Friday, extending its longest-ever streak of gains.
The UK’s leading stock index closed 1.17% higher on Friday, while the FTSE 250, which tracks mid-sized companies, rose 0.52%. The gains came after China’s Ministry of Commerce announced it was “currently evaluating” a US proposal to begin negotiations.
According to Bloomberg, this marked the FTSE 100’s 15th consecutive day of gains—the longest unbroken run in its history. The index has climbed 2.15% over the past week alone.
Investor sentiment was also buoyant in the US. As London markets closed, Wall Street was on track for its highest finish since President Trump’s “Liberation Day” a month ago, when sweeping new tariffs rattled global markets. A 1.2% rise in the US index would be needed to hit that mark, and it was trading about 1.3% higher at the time of the FTSE’s close.
The global business community remains hopeful that Washington and Beijing can reach an agreement after weeks of uncertainty. However, analysts have warned that risks remain despite the positive market response.
Speaking to Bloomberg TV, Amy Xie Patrick of Pendal Group noted: “Is it progress? Yes, in terms of how aggressively the US had been pushing on tariffs. But is the uncertainty over? I very much doubt it.”
China has insisted that any negotiations must be preceded by US concessions. The US has imposed tariffs of up to 145% on Chinese imports, prompting retaliatory duties of up to 125% from Beijing.
“If the US wants to talk, it should show its sincerity, be prepared to correct its wrong practices, and cancel unilateral tariffs,” China’s commerce ministry said.
President Trump, meanwhile, has repeatedly claimed that China has reached out to resume talks and expressed optimism this week, stating there is a “very good chance we’re going to make a deal.”
