FTSE 100 Rises as Trump Tariff Fears Temporarily Ease

FTSE 100 climbed on Wednesday, recovering some losses from earlier in the week following U.S. President Donald Trump’s tariff announcements. The London blue-chip index gained 53 points, closing at 8,623—a 0.6% increase.

The FTSE had faced declines on Monday and Tuesday amid concerns over potential trade restrictions. However, market volatility subsided after Trump agreed to delay tariffs on Canada and Mexico, leading to a more stable trading environment. Chris Beauchamp, an analyst at IG, noted that financial markets were regaining a “positive mood” but warned that Trump could return to tariff discussions at any moment.

FTSE 100 Market Movers and Currency Performance

European markets had mixed results, with France’s Cac 40 slipping 0.2%, while Germany’s Dax edged up 0.2%. On Wall Street, the S&P 500 gained 0.2%, and the Dow Jones rose 0.3%. Meanwhile, the pound strengthened against the dollar, climbing 0.3% to 1.252 after market close, though it dipped 0.1% against the euro to 1.201.

In corporate news, Santander reported a 38% drop in UK annual profits due to provisions for potential motor finance mis-selling and increased savings rates. Despite speculation about its UK future, its Spanish parent, Banco Santander, sought to dismiss exit rumours.

Pharmaceutical giant GlaxoSmithKline (GSK) boosted its long-term sales outlook, crediting a robust drug pipeline. Turnover grew 3%, with speciality medicines such as HIV and oncology treatments driving a 20% sales rise. GSK shares surged 7.6%.

Among the FTSE 100’s top gainers, GSK rose 105p to 1,485p, Fresnillo added 41.5p to 755p, and Tesco gained 10.2p to 387.6p. On the downside, Diageo dropped 92.5p to 2,235p, while DCC declined 195p to 5,300p.

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