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UK stock markets have ended the month in the green as markets remain steady in the face of persistent uncertainty over Donald Trump’s tariffs.
London’s FTSE 100 rose 55.93 points, or 0.64%, to close at 8,772.38.
The index outperformed European peers, with Germany’s Dax rising 0.27%, while France’s Cac 40 closed 0.36% lower.
Trading started off on the back foot over on Wall Street. The S&P 500 was down about 0.35%, and Dow Jones was 0.15% lower by the time European markets closed.
A group of equity analysts for Barclays wrote in a research note: “Equity markets held steady this week amidst ever changing policy narratives.”
“It also shows that investors are reacting more calmly to tariff headlines now, viewing them increasingly as negotiation tactics.”
They added that there were signs of “fatigue” among traders as Mr Trump’s trade policy is held “in limbo”.
In new developments this week, the US president is fending off potential roadblocks to his trade policies from the US courts.
On Thursday, a federal appeals court said it was allowing Mr Trump to continue collecting import taxes for now, a day after a lower court blocked the duties.
Barclays’ analysts said the “guessing game on tariffs leaves the market exposed” to sharp moves as a result of the changes.
Meanwhile, the pound was down about 0.1% against the US dollar, at 1.348, and rising around 0.1% against the euro, at 1.187.
In company news, M&G said it had partnered with Japanese life insurer Dai-ichi Life to accelerate the group’s expansion into European private markets, and give it greater access to markets in Japan and across Asia.
Dai-ichi Life plans to buy a 15% stake in M&G as part of the deal, the firm said, which would make it the largest shareholder in the British investment firm.
Shares in M&G rose 5.5% on Friday, making it the biggest riser on the FTSE 100.
BP announced it has appointed David Hager to its board of directors, who joins following a 40-year career in the oil and gas industry, including as the former chief executive of Devon Energy.
Mr Hager “brings deep-rooted knowledge of the US upstream oil and gas industry”, BP’s chair Helge Lund said. BP’s shares closed 0.5% higher.
The biggest risers on the FTSE 100 were M&G, up 12.3p to 236.7p, GSK, up 51p to 1,507p, BT, up 5.5p to 179.45p, AstraZeneca, up 322p to 10,720p, and Unite Group, up 21.5p to 861p.
The biggest fallers on the FTSE 100 were IAG, down 6.7p to 326.1p, Spirax, down 100p to 5,715p, Compass Group, down 45p to 2,605p, Polar Capital Technology Trust, down 5.5p to 326.5p, and Rio Tinto, down 59p to 4,402p.