Britain’s blue-chip index advanced on Friday, led by Shell, as potential easing in China-US trade tensions and generally positive earnings reports boosted market sentiment.
By 0955 GMT, the FTSE 100 was up 0.8%, on track for its fifteenth consecutive winning session - the longest on record, and poised to mark its third straight week of gains.
Despite the recent market turbulence, due to US import tariffs, the blue-chip index remains just 3.6% below its record closing high achieved on March 3, 2025.
Oil giant Shell gained 3.4% after beating analyst expectations for first-quarter net profit and maintaining its share buyback programme despite falling oil prices and lower refining margins than last year.
The energy index rose 2%, boosted by Shell’s results.
NatWest inched up 1.2% after the lender reported a forecast-beating 36% rise in first-quarter profit, thanks to healthier margins on deposits and higher loan balances.
Standard Chartered reported a 10% profit rise, though it joined peer HSBC in saying increased tariffs would weigh on credit quality. The bank’s shares were down 0.5%.
On the tariff front, China’s Commerce Ministry said that Beijing was “evaluating” an offer from Washington to hold talks over US President Donald Trump’s 145% tariffs and that Beijing’s door was open for discussions.
FTSE 100 flat as investors assess mixed corporate earnings
However, China said Washington needed to show “sincerity” in negotiations and should be prepared to cancel its unilateral tariffs. The domestically focused FTSE 250 was nearly flat in the day, but it was heading towards its fourth consecutive weekly advance.
SSP Group jumped 6% and was among the top performers on the midcap index after Financial Times reported activist investor Irenic Capital Management has built a 2% stake in the food outlet operator.
The stock hit its highest in about a month and a half. Shares of Ukraine-focused miner Ferrexpo surged for the second consecutive day, rising 10%, boosted by the US-Ukraine minerals deal.
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