Market Analysis

On Friday, the FTSE 100 of the UK soared to new heights, boosted by robust earnings from major U.S. tech companies and the acquisition news of cybersecurity firm Darktrace by Thoma Bravo. The index climbed by 0.6% by 0725 GMT, marking its fourth consecutive session of hitting record highs and on track for its most significant weekly gain in over seven months.

Global market sentiment, particularly in Asia and Europe, was optimistic following the strong earnings reports from tech giants Alphabet and Microsoft on Wall Street.

NatWest saw a surge of 3.4%, reaching its highest level in over a year, despite a 27% decline in first-quarter profit that was better than anticipated.

However, Anglo American faced a setback with a 0.8% decline after rejecting a £31.1 billion takeover bid from BHP Group, stating that it undervalued the company and its future prospects. Anglo American's stock had initially rallied by 16% in response to BHP's offer the previous day, while BHP's UK-listed stock dropped by 0.9%.

Meanwhile, the FTSE 250 rose by 0.6%, with Darktrace experiencing a notable increase of 16.5% following the announcement of Thoma Bravo's acquisition agreement for approximately $5.32 billion.

In domestic news, British consumer sentiment reached a two-year high this month, reflecting increased optimism among households regarding the economy and their personal finances, according to a longstanding survey.

Paraphrasing text from "Reuters" all rights reserved by the original author.