FTSE 100 hits another record high, investors eye Trump policies (updated)
20/01/2025 17:11
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Eyes on Trump's return to White House
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Reach posts best day in more than four years
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Pod Point Group plunges after downbeat forecast
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FTSE 100 up 0.2%, FTSE 250 down 0.5%
(Updates with markets close)
Jan 20 (Reuters) - London's blue-chip FTSE 100 hit a
record high on Monday for the second session in a row as
investors awaited Donald Trump's return to the White House for
fresh insights on his stance on tariffs and international
relations.
The FTSE 100 index of top British firms .FTSE ended up
0.2% at a fresh closing peak, though off its intraday high.
Trading volumes were thin due to a U.S. market holiday.
Trump, who has pledged to sign a flurry of executive orders
concerning immigration, energy and tariffs on his first day in
office, is being sworn in as U.S. president.
Traders have been concerned that his threats of tariffs on
China and other countries would stoke inflation and weigh on
global growth. There was a sense of relief in global markets on
Monday after Trump was quoted as saying he would not impose U.S.
tariffs yet at his inauguration.
Also in focus this week is the annual gathering of
government and business leaders in Davos, Switzerland, as well
as earnings reports.
Stock markets across the globe surged last week after signs
of slowing inflation in the U.S. and Britain prompted traders to
increase their bets of further rate cuts from the Federal
Reserve and the Bank of England.
Traders are currently pricing in an 81% chance of a 25 basis
point rate cut from the BoE early next month, and see 62 bps of
easing overall by the end of 2025.
The FTSE 250 midcap index .FTMC dipped 0.5% after a
four-session run of gains.
Among individual stocks, Reach RCH.L soared 21% for its
best day in more than four years, after the publisher of the
Daily Mirror estimated its fiscal 2024 operating profit would
beat market expectations, helped by a strong fourth quarter.
Sanderson Design Group SDG.L slumped 11% after the luxury
interior design and furnishings group issued a profit warning,
hurt by lower brand products sales and a weak finish to the
fiscal year in the UK.
Electric vehicle charging point provider Pod Point Group
PODP.L plunged about 35% after it warned of a challenging year
and cut its 2024 revenue forecast due to weaker EV demand.
(Reporting by Sruthi Shankar in Bengaluru. Editing by Eileen
Soreng and Mark Potter)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2787;))
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