The UK stock market is on course to extend its strongest winning streak in over five years, matching the surge seen after Boris Johnson’s election victory.
The FTSE 100 has posted gains for nine consecutive trading sessions, buoyed by easing trade tensions. If the index rises again today, it would mark a 10-day winning run—the longest since the “Boris Bounce” rally of December 2019.
Before that, the last comparable streak dates from December 2016 to January 2017, when the FTSE 100 enjoyed a 14-day rally.
European Stocks Climb on Hopes of Easing US-China Trade Tensions
European markets moved higher amid renewed optimism that tensions between the US and China may be cooling.
According to Reuters, China is considering exempting some US imports from its 125% tariffs, fuelling hopes of de-escalating the ongoing trade dispute between the world’s two largest economies.
Germany’s DAX increased 0.1%, France’s CAC 40 gained 0.5%, and Spain’s IBEX rose 0.8%. However, the UK’s FTSE 100 gave up earlier gains to trade flat.
Travel stocks led the rally across Europe, climbing as much as 2%, while automakers and parts suppliers also saw solid gains, rising up to 1.7%.
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