FTSE 100 movers: US-exposed stocks rise as trade tensions soften

(Sharecast News) - Companies with heavy exposures to the US were among Friday's top performers as trade tensions between America and China eased, raising hopes that the two economic powerhouses could eventually come to an agreement over tariffs.

The FTSE 100 was rising for the 10th straight day with markets "riding a wave of hope that US tariffs will be scaled back, and the White House will provide certainty around future economic policy," said Kathleen Brooks, research director at XTB.

Building materials group CRH, which derives around three-quarters of its earnings from North America, was the strongest riser with a 3% gain. Gambling outfit and BetMGM owner Entain was also performing well, along with Rentokil Initial, which operates Rentokil Terminix, the largest pest control outfit across North America.

In other news, engineering services firm Babcock was trading higher after analysts at Berenberg raised their target price for the stock from 885p to 910p, stating the group was "charting a profitable course". The broker said the company is making "good progress" towards its medium-term guidance and taking "major steps" to de-risk its long-standing pension deficit over the past 12 months.

Precious metals miner Fresnillo was among the heaviest fallers as gold prices continued to retreat from recent record highs. Gold was down 1.7% at $3,291.10 an ounce, having topped the $3,500 mark earlier this week.

Meanwhile, Shell edged higher on the news that it is to exit three offshore gas projects in Colombia as they no longer meet the company's "strategic ambitions". Shell, the operator in the projects, has held an equal share in the Col 5, Purple Angel and Fuerte Sur deepwater projects along with state-run Ecopetrol since December 2020.

FTSE 100 - Risers

CRH (CDI) (CRH) 6,966.00p 3.08% Melrose Industries (MRO) 425.30p 2.78% St James's Place (STJ) 954.00p 2.45% Entain (ENT) 582.40p 2.36% Rolls-Royce Holdings (RR.) 752.00p 2.29% Rentokil Initial (RTO) 344.60p 1.98% Mondi (MNDI) 1,144.00p 1.64% International Consolidated Airlines Group SA (CDI) (IAG) 265.40p 1.49% Intermediate Capital Group (ICG) 1,867.00p 1.47% Smurfit Westrock (DI) (SWR) 3,194.00p 1.40%

FTSE 100 - Fallers

Marks & Spencer Group (MKS) 378.60p -4.03% Rightmove (RMV) 714.80p -2.06% Unilever (ULVR) 4,710.00p -1.69% WPP (WPP) 551.60p -1.46% Flutter Entertainment (DI) (FLTR) 17,090.00p -1.33% Fresnillo (FRES) 992.00p -1.20% JD Sports Fashion (JD.) 77.34p -1.05% Diageo (DGE) 2,077.00p -0.91% Smith & Nephew (SN.) 996.60p -0.79% Prudential (PRU) 803.60p -0.77%