FTSE 100 reaches 9,000 level with trade talks, rate path in focus

By Ankita Yadav

July 15 (Reuters) - The UK's FTSE 100 surpassed the 9,000-point mark for the first time on Tuesday, as investors took comfort in a relatively tariff-shielded market and rising bets of a Bank of England interest rate cut.

The blue-chip FTSE 100 .FTSE was up 0.1% at 9,001.1 points — touching a fresh intraday record high as of 1035 GMT — while the domestically oriented FTSE 250 index .FTMC climbed 0.6% to a more-than-three-year high.

"The UK market has acted as something of a safe haven amid global trade uncertainty in recent months, thanks in part to the UK quickly striking a trade deal with the U.S.," said Jonathan Unwin, UK head of portfolio management at Mirabaud Wealth Management.

The UK is one of only two countries to have a trade deal with the U.S.

"Expectations of UK rate cuts are further supporting rate-sensitive stocks, while the currency drag from dollar weakness has largely played out at this stage."

The blue-chip index has risen about 20% from its April lows when U.S. President Donald Trump's announcement of "Liberation Day" tariffs sent global stocks plunging.

Later on Tuesday, British Finance Minister Rachel Reeves will set out measures to ease access to mortgages when she gives the annual Mansion House speech.

Investors will also tune in to BoE Governor Andrew Bailey's commentary on the central bank's rate outlook.

Traders are currently pricing in 89% chances of a 25 bps rate cut in August, as per data compiled by LSEG.

Industry data showed British retail spending bounced back in June, following weak sales growth in May, as unusually hot weather boosted demand for fans and summer clothing.

Among individual stocks, Experian EXPN.L rose 4.7% after the credit data firm reported an 8% organic revenue growth in the first quarter and reaffirmed its annual forecasts.

Barratt Redrow BTRW.L slid 6.2% after Britain's largest homebuilder said home completions missed expectations for fiscal 2025, as concerns around affordability resurfaced and deterred private buyers.

B&M BMEB.L slumped 8.5% after the discount retailer missed like-for-like sales estimates in its UK business in the first quarter.

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