LONDON, 17 May 2025 – The FTSE 100 continued its steady upward trajectory on Friday, closing at levels not seen since the start of April when former US President Donald Trump stunned global markets with sweeping tariff declarations. London’s leading blue-chip index rose by 46.01 points to finish at 8,679.76 – a 0.53% gain on the day – marking a full recovery to pre-tariff announcement levels.
Investors appeared buoyed by recent indications that the worst of the tariff turbulence may now be behind them. Mr Trump, speaking in a characteristically defiant tone, confirmed that the United States would revise its tariff structure after a period of de-escalation in talks with key trade partners. “It’s not possible to meet the number of people that want to see us,” he said, in reference to ongoing negotiations.
This comes in the wake of trade relief deals struck earlier this month with both the United Kingdom and China, which saw tariffs reduced on key goods such as steel, cars, and electronics. The announcements helped lift market confidence, which had been dented by fears of a full-scale global trade war.
Michael Hewson, chief market analyst at MCH Insights, said the markets were now pricing in a more settled outlook. “The market appears to have made up its mind on tariffs, at least for now,” he noted. “Record highs on the Dax and renewed confidence in the FTSE suggest investors are cautiously optimistic.”
Indeed, Germany’s Dax index also posted gains, closing up 0.075%, while France’s CAC 40 edged 0.19% higher. Across the Atlantic, Wall Street was muted but positive: the S&P 500 was up 0.054% and the Dow Jones inched ahead by 0.012% at the close of UK trading.
In currency markets, sterling dipped 0.33% against the US dollar to 1.3261, though it ticked up 0.081% against the euro, reaching 1.1897.
Company developments drive movement
In corporate news, shares in digital media group Future PLC slumped by 9.37% after the company warned of declining revenue this financial year, citing “ongoing macroeconomic uncertainty”. The firm, which owns Go.Compare and Marie Claire, said it was taking a “more cautious view” of the second half of the year after a sluggish performance in its US digital advertising business during March. However, the company reported a modest recovery in April.
Meanwhile, the bidding battle for healthcare property firm Assura intensified. Primary Health Properties (PHP) confirmed a £1.68 billion offer, overtaking the £1.61 billion bid accepted last month from US private equity heavyweights KKR and Stonepeak Partners. Shares in Assura rose 1.6% as speculation mounted over a potential counter-offer.
FTSE movers
Among the FTSE 100’s biggest risers were:
- British American Tobacco, up 110p to 3,187p
- GSK, rising 32p to 1,394.5p
- St James’s Place, climbing 23p to 1,094p
- Scottish Mortgage Investment Trust, gaining 19.3p to 1,010.5p
- F&C Investment Trust, up 21p to 1,110p
In contrast, notable fallers included:
- Anglo American, down 77p to 2,066p
- Melrose Industries, dropping 10.2p to 465.4p
- Antofagasta, slipping 35p to 1,821p
- Glencore, down 4.6p to 266p
- Kingfisher, declining 5.3p to 310.8p
As global markets digest shifting trade dynamics and ongoing macroeconomic challenges, analysts suggest the FTSE’s gains could be sustained if further tariff escalations are avoided. While political uncertainty remains, investors appear hopeful that calmer waters lie ahead.