FTSE 100 on track for longest winning streak ever
The FTSE 100 is set to net its longest winning run ever as it recovers from the tariff-induced market chaos of April.
Should the UK’s flagship index continue its morning rally and close in the green on Friday for the 15th consecutive trading session, it will beat the current record of 14 days achieved in 2017.
The index was up nearly one per cent in early trading as firms rallied on the back of first-quarter results.
The gains put the index relatively flat against pre-tariff trading.
Natwest was up nearly three per cent as the market opened, before consolidating around one per cent.
The firm beat analyst profit expectations to pocket £1.8bn. This was driven by increased mortgage lending as Brits rushed to beat the stamp duty deadline and a surge in trading income from first-quarter market volatility.
Meanwhile, shares in the blue-chip index’s third-biggest constituent, Shell, rose nearly three per cent after the oil giant launched its 14th quarterly-consecutive buyback.
The firm recorded a sharp drop in profit for the first three months of the year, mainly due to weakening oil prices amid geopolitical uncertainty.
Mining stocks were among the strongest performers on Friday morning, as metal prices soared on hopes of lower tariffs between China and the US.
Anglo American was up nearly two per cent, Antofagasta and Glencore over one per cent and Rio Tinto nearly one per cent.
Elsewhere, the FTSE 250 rose one per cent in early trading before trading broadly flat. If the mid-cap index notches a gain, it will net its longest winning streak since 2020 of eight days.
Russ Mould, investment director at AJ Bell, said: “The FTSE 100 was on course to extend its winning streak after signs of a potential de-escalation of the tariff stand-off between US and China gave investors real heart.
“There were strong gains in Asia and on Wall Street overnight. The latter helped by strong after-hours results from Microsoft and Meta Platforms on Wednesday. Although subsequent more mixed earnings from Apple and Amazon may have soured sentiment a touch.
London beats New York markets to recovery
Global markets took a slump at the beginning of April after President Donald Trump imposed sweeping tariffs on the US’ trading partners.
The FTSE 100 plunged five per cent on the day China announced reciprocal tariffs against the US.
The index fell to a low of 7679.48 on April 9 as trade war tensions ramped up.
But, after Trump’s roll back on levies, markets began to recover.
In Europe, Germany‘s Dax and Cac 40 in Paris were up 1.5 per cent on Friday morning.
On Wall Street, the US markets had a rocky road to recovery, as Trump’s erratic rhetoric continued to spook investors.
Stocks slumped after GDP data revealed US economic growth fell 0.3 per cent in the first three months of 2025.
In a post on Truth Social, Trump blamed former President Joe Biden for the market woes.
“This is Biden’s Stock Market, not Trump’s,” the President said.
“Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers.
“Our country will boom, but we have to get rid of the Biden “Overhang”. This will take a while.”
The Dow Jones gained 0.2 per cent on Thursday, but was down over three per cent for the month. The S&P was also down one per cent for the month.
The tech-heavy Nasdaq has tumbled 2.5 per cent since the beginning of the year, when Trump first began teasing tariff announcements.