The UK stock market has witnessed an impressive rally recently. On April 29th, the FTSE 100 index rose 0.6%, achieving a 12 - day winning streak, the longest in five years. Meanwhile, the mid - cap index has climbed for five consecutive days. The financial sector, which saw a 1.9% increase, was the main driver of this upward trend. HSBC Holdings, with a 2.6% gain, led the blue - chips. It benefited from its better - than - expected Q1 profits and a $3 - billion share - buyback plan.
However, not all sectors fared well. BP's net profit plunged 48%, dragging the energy sector down by 1.2%. The parent company of Primark, AB Foods, saw its half - year profit decline 10%, causing its share price to plummet 9.2%. On the policy front, Chancellor of the Exchequer Reeves has submitted the first mandatory cryptocurrency - asset regulatory bill, aiming to license exchanges. In terms of economic data, the inflation rate of UK groceries rebounded to 3.8% in April, indicating a resurgence of food - price pressure.
Market analysts suggest that the Trump administration's statement on alleviating the impact of car tariffs, combined with the divergence in corporate earnings reports, has jointly shaped the rotation trend among sectors. As the UK stock market continues to evolve, investors are keeping a close eye on how these factors will further influence the market in the future.
