FTSE 100 Falters Amid Sterling Surge, Burberry Outshines
Britain's FTSE 100 dropped 0.7% as a rising sterling hurt exporters. Burberry excelled with better-than-expected sales fueled by a strong U.S. holiday season. Sterling's rise and Trump's lenient tariff stance influenced market movements. UK mining shares climbed on U.S.-China trade deal hopes, amid slow growth signs in British business.

On Friday, Britain's FTSE 100 experienced a decline of 0.7% as the surge in sterling negatively impacted export-focused firms. In contrast, Burberry saw a significant rise, driven by an impressive U.S. holiday performance, surpassing sales predictions.
This week marked a record high for the benchmark as global stocks surged. President Donald Trump's softer approach to tariffs and potential U.S. economic boosts had a hand in this uptick. Conversely, global companies like Shell and HSBC were affected by sterling's two-week rise against the dollar amidst ongoing tariff policy uncertainties.
UK-listed miners, including Antofagasta and Rio Tinto, climbed following a hopeful jump in copper prices tied to a prospective U.S.-China trade agreement. Midcap index, FTSE 250, maintained stability. Burberry's stronger-than-expected quarter buoyed other European luxury firms, while Bloomsbury and Diageo indicated varied performance outcomes, amid broader signs of tepid British business growth.
(With inputs from agencies.)