FTSE 100 Opens Higher as Banks Rebound and Trade Hopes Lift Mood
The FTSE 100 opened 0.5% higher at 9,396.84, driven by a rebound in banking stocks and optimism over US-China trade talks.
- Financial stocks led the gains, with HSBC up 1.7%, Standard Chartered rising 2.1%, Lloyds adding 1.4%, and Barclays climbing 1.5%.
- Defence shares also saw significant gains, including Babcock, BAE Systems, and Rolls-Royce, with increases of 2.9%, 1.5%, and 2.8%, respectively.
- European defence names, such as Rheinmetall, Leonardo, and Safran, also rose, with gains of 4.4%, 3.2%, and 2.1%, respectively.
Investor sentiment was buoyed by reports that the US and China will hold another round of trade talks this week, easing concerns over another round of tit-for-tat tariffs.
Author's summary: FTSE 100 rises on banking rebound and trade optimism.