FTSE 100 Reaches Record High Amid Tariff Concerns

The FTSE 100 achieved a record high as gains in Shell countered declines in copper miners. Market anxieties arose following Trump's tariffs, affecting sectors like metals and travel. BP and Entain shares dropped, while the market anticipated upcoming U.S. inflation and British GDP reports.

On Tuesday, the FTSE 100 reached a record closing high, buoyed by advances in Shell shares despite setbacks in copper mining stocks. Notably, Shell benefitted from Nigerian oil producers' efforts to secure service contracts for the Bonga North deepwater project.

Meanwhile, the broader market faced pressure as President Trump's recent tariff hikes on steel and aluminum imports exacerbated fears of a global trade war. Consequently, key miners witnessed a 1.2% to 2.7% drop, reflecting concerns about worldwide economic growth and demand for metals.

BP shares fell 0.6% after logging a rare setback in quarterly profits, while travel sector stocks took a hit with TUI shares plummeting due to declining bookings. Market participants were also closely watching financial data releases such as U.S. inflation metrics and UK GDP figures, which could influence future interest rate decisions by the Bank of England.