FTSE 100 tops 9,000 for first time EVER with Britain seen as 'safe haven' amid Trump trade war
The FTSE 100 reached 9,016.98 this morning, having stopped just shy of the milestone yesterday. The index has gained 10 per cent so far this year.
Although it eased back again slightly, analysts suggested the performance was being helped by the UK having struck a tariffs deal with the US - unlike the EU and other major nations.
Keir Starmer has boasted of his agreement with Mr Trump, which saw the president's 'beautiful' tariffs cut to 10 per cent. Some areas such as car exports have fuller exemptions, although a promised get-out for steel has yet to materialise.
Mr Trump said on Saturday that major trading partners Mexico and the EU would face a 30 per cent tariff starting next month.
Markets across Europe lifted tentatively today on hopes that a deal can still be struck, with the Dax in Germany and France 's Cac 40 up 0.3 per cent and 0.2 per cent respectively.
The UK stock market has been seen as underperforming for many years, relying on traditional industries rather than faster-growing tech firms.
AJ Bell investment analyst Dan Coatsworth said: 'With the UK having already reached an agreement on a 10 per cent tariff for trade with the US, with exemptions for certain industries, the country is now seen to have an advantage in terms of trade relations.
'The UK stock market is the calming cup of tea and biscuit in an uncertain world. There's nothing fancy on offer, just reliable names that do their job day in, day out. That's an underrated characteristic and a reason why investors are finally warming to the UK stock market's appeal in 2025'.
Victoria Scholar, head of investment at Interactive Investor, said a speech by Chancellor Rachel Reeves later will also be in sharp focus.
She said: 'UK Chancellor Rachel Reeves prepares to deliver her closely watched Mansion House speech tonight when she is anticipated to outline a series of financial reforms including measures to improve mortgage access.'
Some stocks were struggling on the FTSE despite the record being reached, with Barratt Redrow plunging to the bottom of the top tier, shedding 7 per cent after a disappointing update, which also dragged rival housebuilders Persimmon and Berkeley Group lower.
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