The FTSE Finish Line - Friday, April 11

By Patrick Munnelly of Tickmill

Friday, April 11, 2025 7:40 PM EDT

Cutout paper illustration representing scheme and Stocks inscription

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The FTSE 100 in the UK continued to rebound Friday, driven by mining stocks, as investors kept their attention on the escalating trade conflict between the two largest economies in the world, following China's increase of tariffs on U.S. imports to 125%. The blue-chip FTSE 100 index increased by 0.9%, following its biggest one-day rise in three years on Thursday. China's action is a reaction to U.S. President Donald Trump's announcement of raising tariffs on Chinese imports to an effective rate of 145%. This week, financial markets saw considerable volatility due to Trump's initial announcement of substantial tariffs on trading partners, which were partially rolled back within 24 hours of their implementation. Precious metal miners Fresnillo and Endeavour Mining were the leading gainers on the blue-chip index, each rising by 5%, driven by increasing bullion prices. An index of industrial metal miners rose by 2%, as London base metals mostly increased, with copper on the path to a weekly advance. Conversely, the energy index dropped by 1.2%, with BP falling by 2% after the energy company indicated it anticipates weak first-quarter earnings from gas marketing and trading, along with a rise in net debt. Economically, Britain's economy returned to growth with a strong 0.5% expansion in February, exceeding economists' expectations and indicating a slightly stronger position as it prepares for the effects of U.S. tariffs. Following the better-than-anticipated GDP figures, traders reduced their expectations for a rate cut by the Bank of England.

Single Stock Stories & Broker Updates:

Shares of BP fell 1.7% to 335.75p, leading losses in the FTSE 100. Q1 upstream production is expected to be lower, with net debt rising about $4 billion. Earnings from oil production are likely to be flat sequentially due to price lags in the Gulf of Mexico and UAE. BP's stock is down about 13% this year.
Shares of Character Group drop 11% to 230p as CCT withdraws FY2025 market guidance due to anticipated U.S. tariffs on China. The company states its ability to forecast U.S. sales, which represent 20% of turnover in 2024, is significantly uncertain. CCT expects to remain profitable in the current fiscal year, with H1 results matching the previous year. To date, the stock has fallen 6.20% this year.
Niox shares plummet 21.9% to 55.04 pence, the lowest since July 2023, marking the worst day since June 2016. The company halts its private sale process, deeming it non-optimal for shareholders. Keensight confirms no firm offer for Niox due to macro-economic conditions. Niox shares are up 11.8% year-to-date.
Fresnillo shares rose 4.58% to 965.23p after Peel Hunt upgraded the stock to "add" and raised the price target to 1,010p. The brokerage anticipates stronger cash flows with higher gold and silver prices, but notes dependence on sustained price levels due to delayed internal growth plans. Currently, five out of 13 brokerages rate the stock "buy" or higher, while eight hold, with a median price target of 897.50p. The stock has increased approximately 56% YTD.

Technical & Trade View

FTSE Bias: Bullish Above Bearish below 8950