STOCK markets bounced back yesterday — with the FTSE closing up more than two per cent and back above the 8000 mark.
-based defence outfit led the UK blue-chip share charge, rising more than 5.5 per cent.
climbed five per cent, with other finance companies and retailers also doing well.
Global markets rebounded after said he was from sky-high tariffs.
That led traders to bet tech groups such as might fare better than expected.
Apple faced a huge , as about four fifths of the iPhones sold in America are made in .
The company’s shares climbed almost five per cent in early US trading.
The tariff turmoil had previously battered the stocks of tech’s so-called Magnificent Seven, with Apple, , Nvidia, , , parent Alphabet and parent Meta losing 12 per cent of their market value at one point last week.
Yesterday, the tech-based US Nasdaq index rose by 2.1 per cent in early trading.
But global stock markets are still lower than before Trump’s tariff surge on April 2.
The remains down 5.9 per cent compared to the day before.
Richard Hunter, head of markets at Interactive Investor, said: “The market whipsaw continues, with investors buffeted by conflicting signals, which has made any thoughts of equilibrium a distant dream for the time being.”;
Goldman Sachs chief David Solomon said yesterday the prospect of a recession had increased owing to uncertainties of a trade war.
He said the turmoil gave bosses new challenges, leaving them unsure about how to plan for the future.
SONY’S PAY STATION
GAMERS are the latest to be hit by the economic fall-out of Donald Trump’s tariffs — as raises the games console by more than ten per cent.
The company blamed the increase on the “challenging economic environment including high inflation and fluctuating exchange rates”;.
To enjoy gameplay, as shown in a huge ad display, above, British buyers face an increase from £390 to £430 for the PS5 digital.
Prices for other versions of the console remain unchanged.
Sony also confirmed the price of some PS5s would rise in Europe, Australia and New Zealand.
The US President’s decision to impose tariffs on nations around the world has caused major disruption to global manufacturing supply chains.
SHOPS IN SUNSHINE BOOSTER
SUNNIER weather has sent gardening and DIY equipment “flying off shelves”;, the British Retail Consortium says.
Sales of jewellery and beauty products were also helped by Mother’s Day but shoppers were cautious about buying bigger items such as furniture.
Total UK retail sales climbed 1.1 per cent year-on-year, according to the latest BRC-KPMG Retail Sales Monitor.
Food sales climbed 1.6 per cent, while non-food sales increased 0.6 per cent.
KPMG’s Linda Ellett said: “Amid downbeat consumer confidence and many facing rising costs, retail sales growth feels like an achievement.”;
But said spending on cards grew just 0.5 per cent year-on-year in March, compared with one per cent in February.
Economist Jack Meaning said: “We expect spending to stay muted in mid-2025, before picking up into 2026 as interest rates easing starts to be felt.”;
KNOCKING ON WOOD
STRUGGLING engineering company John Wood Group has received a fresh takeover bid from Dubai-based Sidara, which values it at £242million.
The offer includes a potential £342million cash injection.
Last year, Sidara’s £1.56billion bid for the business collapsed after talks.
Bosses at Aberdeen-based John Wood, whose share price has been tumbling in recent weeks, said they would “be minded to recommend”; the latest takeover deal.
META IN CRUNCH U.S. TRIAL
TECH giant Meta could be forced to flog Instagram and WhatsApp if it loses a trial.
A US government lawsuit has accused the Facebook owner of buying Instagram in 2012 and WhatsApp in 2014 to eliminate competition, creating a social media monopoly.
The Washington DC trial is expected to last several weeks, with Meta’s founder expected to give evidence.
Both takeovers were approved by the US Federal Trade Commission but the competition watchdog has continued to monitor the outcomes and eventually filed the case during President Donald Trump’s first administration.
Trump fell out with Zuckerberg after he was barred from Meta’s social media platforms in the wake of the US Capitol riot in January 2021.
Meta says it is confident of winning the case and points out it has many competitors.
BUSINESS GLOOMY OVER TAX
BUSINESS confidence slipped into negative territory for the first time in more than two years in the first quarter of 2025.
Many said they were worried over this month’s surge in business costs and US tariffs.
More than half of businesses said taxes were challenging.
The Institute of Chartered Accountants in England and Wales said confidence was at its lowest point since late 2022, when inflation was surging amid the energy crisis and Liz Truss’s mini-Budget.
Alan Vallance of the ICAEW said: “Tax worries are causing record levels of distress for our members.”;
He said the findings revealed a “state of despondency”; among bosses as they staved off extra outlays, including this month’s rise in employers’ National Insurance Contributions.
