British Stocks Surge Amid Fortunes in Defence and Mining

British stocks experienced gains, led by defence and mining sectors, despite a week filled with tariff uncertainties. The FTSE 100 rose, although set for a weekly decline. Metal miners and aerospace stocks topped gains. Economic concerns persist with GDP contraction and high inflation expectations, alongside geopolitical tariff tensions.

British stocks saw a lift on Friday, driven largely by defence and mining sectors, following a tumultuous week marked by uncertainties surrounding U.S. tariff policies.

The FTSE 100 index climbed 0.6% by late morning, though it braces for a 1% weekly decline, attributed to market volatility sparked by fluctuating U.S. tariff strategies and lacklustre corporate earnings. Midcap stocks increased by 0.7% but are on track for a fourth consecutive week of losses.

Surge in metal miners, with precious and industrial metals gaining significantly, helped buoy the market as spot gold exceeded $3,000. Meanwhile, the unexpected contraction in Britain's GDP and soaring inflation expectations underline persistent economic challenges, exacerbated by potential new tariffs under President Trump's administration.

(With inputs from agencies.)