Tariff turmoil pressures British stocks; mining shares provide support

LONDON: The FTSE 100 rose on Friday, with gains in mining stocks providing some support even as escalating fears over US-China trade tensions left investors wary after a week of tariff-induced uncertainty.

The blue-chip FTSE 100 index was up 0.6%. But the index fell 1.1% for the week, its second straight week of losses.

Meanwhile, the midcap FTSE 250 was flat. The index gained 0.7% for the week.

Stocks have been on a roller-coaster ride over the past week due to tariff turmoil. Earlier this week, US President Donald Trump paused duties for dozens of countries for 90 days, giving markets a brief reprieve, with British stocks recording their strongest session in three years.

But investors remained cautious due to ongoing US-China trade tensions and recession fears. China on Friday raised its tariffs on US imports to 125%, retaliating against Trump’s raising duties on Chinese goods to 145%, intensifying the tit-for-tat trade war between the two biggest global economies.