LONDON: British equities closed higher on Friday, as the recent de-escalation of the global tariff war supported risk appetite, while investors anticipate more trade agreements ahead.
The blue-chip FTSE 100 gained 0.6%, closing at its highest in nearly 2 months. The index posted a weekly gain of about 1%.
The midcap index gained 0.6% and posted its higest closing since February 10.
The index gained 1.7% this week, notching its seventh consecutive weekly advance.
On Friday, President Donald Trump said US officials will send letters to countries in the next few weeks, outlining the costs associated with doing business in the United States, though he did not provide additional details.
This week, investors cheered the US-China trade war truce, which significantly reduced global recession risks, alongside benign economic data and mostly positive corporate earnings results, despite some underlying caution.
Some major brokerages have revised their US recession forecasts downward after a temporary tariff truce between the US and China eased global trade tensions and sparked a rally in riskier assets this week.
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