FTSE 100 on Record Winning Streak Amid Trade Tension Easing

British stocks surged, pushing the FTSE 100 index to a record winning streak as easing U.S.-China trade tensions bolstered market sentiment. Despite upbeat retail sales, concerns about consumer confidence and rising energy costs lingered. Aerospace and defence sectors thrived, while Mobico Group suffered significant losses.

The FTSE 100 index recorded its longest winning streak in eight years, buoyed by positive reactions to reduced trade tensions between the U.S. and China. The index's small rise of 0.09% extended its gain to ten consecutive sessions.

China's tariff exemptions on some U.S. imports signaled easing economic tensions, despite U.S. President Donald Trump's comments about high future foreign tariffs. Meanwhile, domestic retail sales unexpectedly increased in March but did not offset consumer confidence sagging due to rising energy costs.

The aerospace and defence sector led the market, with Babcock International Group among the top performers. However, Mobico Group's shares fell drastically after a disappointing business sale. Marks & Spencer also faced setbacks following a reported cyber attack, impacting their online operations.

(With inputs from agencies.)