The FTSE 100 of Britain achieved its fourth consecutive record high on Friday, propelled by robust earnings from U.S. technology giants, while cybersecurity firm Darktrace surged following a buyout deal by private equity firm Thoma Bravo.
The blue-chip FTSE 100 closed up 0.8%, reaching a fresh all-time high of 8,146.79 points earlier in the day. It marked its largest weekly gains since mid-September.
Chris Beauchamp, chief market analyst at IG Group, noted, “The combination of recovering earnings and reasonable prices continue to make things look quite attractive for the UK market.”
Positive earnings from Wall Street tech titans Alphabet and Microsoft also supported sentiment in Asian and broader European markets.
NatWest soared 6.1% to lead the FTSE 100 after the British bank’s first-quarter profit declined by less than expected, reaching a more than one-year high.
Anglo American rejected BHP Group’s £31.1 billion ($39 billion) takeover proposal, citing undervaluation, with investment director Russ Mould suggesting potential for Rio Tinto to enter the fray.
Despite this, Anglo advanced 3.2% after activist fund Elliott revealed a $1 billion stake in the company.
Convatec Group fell 6.5% after Peel Hunt downgraded the stock. The midcap FTSE 250 advanced 1.1%, marking its best week since January.
Darktrace surged 16.4% after Thoma Bravo agreed to acquire the cybersecurity company for about $5.32 billion, driving gains on the index.
British consumer sentiment reached a two-year high this month, reflecting optimism about the economy and personal finances.
In the U.S., monthly inflation moderately rose in March, with persistent increases in housing and transportation costs suggesting the Federal Reserve may maintain elevated interest rates.
Despite global economic uncertainties, buoyant investor sentiment, fueled by strong earnings and strategic acquisitions, continues to propel the FTSE 100 and broader market indices.