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Blue chip stock prices in London, Paris and Frankfurt were higher on Monday midday while London mining stocks rose amid higher precious metals prices; meanwhile Brent oil traded a tad lower. The FTSE 100 index was up 85.53 points, 0.9%, at 9,734.56. The FTSE 250 was up 157.65 points, 0.7%, at 22,034.39, and the AIM All-Share was up 0.24 points at 751.60. The Cboe UK 100 was up 0.8% at 976.62, the Cboe UK 250 was up 0.7% at 19,149.25, and the Cboe Small Companies was down 0.7% at 17,395.12. ‘Despite a sell-off in Asia, the FTSE 100 got off to a strong start on Monday, supported by higher precious metals prices,’ said AJ Bell investment director Russ Mould. ‘The continuing surge in gold and silver helped lift Endeavour Mining and Fresnillo [up 2.1% and 0.3% respectively], and there was broader strength in the mining sector, despite weak Chinese data. The sickly industrial production and retail figures strengthen the argument for new stimulus efforts from the government in Beijing. ‘The relative lack of exposure to AI in the UK is proving more of a boon of late amid increased nervousness about valuations in the space.’ The pound was quoted at $1.3386 at midday on Monday in London, rising from $1.3356 at the equities close on Friday. The euro stood at $1.1747, up from $1.1739. Against the yen, the dollar was trading at JP¥155.00, lower compared to JP¥155.69. UK consumer sentiment around future finances deteriorated to a two-year low in December, according to data published by S&P Global. The S&P Global UK consumer sentiment index fell to 44.7 points in December from 45.2 in November, slipping further below the neutral 50-point mark and indicating an acceleration in the pace of deterioration. The household finance index declined to an eight-month low of 42.4 points from 43.4, while the index for current finances worsened to a five-month low of 40.7 points from 41.6. Most notably, the future expectations index for finances 12 months ahead dropped to a 24-month low of 44.2 points from 45.3. The debt sentiment index also weakened, falling to a 20-month low of 48.6 points from 49.0, although the savings index edged higher to 43.1 from 42.9. Maryam Baluch, economist at S&P Global Market Intelligence, said: ‘Overall, the combination of subdued household confidence and early signs of job insecurity underscores the ongoing challenges facing UK households as they navigate an uncertain economic environment at the turn of the year. ‘Not surprisingly, spending intentions have worsened in this deteriorating financial environment, suggesting consumers are unlikely to provide much of a boost to the economy as we head into 2026.’ Separately, the UK government said cryptocurrencies such as Bitcoin will be regulated in a similar way to other financial products under new laws coming into force in 2027. The Treasury announced legislation that will require crypto firms to meet regulatory standards overseen by the Financial Conduct Authority, bringing the sector closer into line with traditional finance products such as stocks and shares. On the FTSE 100, Hikma Pharmaceuticals was the biggest faller, down 1.3%, after the company said Chief Executive Officer Riad Mishlawi is stepping down on Monday ‘by mutual agreement’. Executive Chair Said Darwazah, who previously served as CEO, will immediately assume all chief executive responsibilities, the London-based drugmaker said, adding that it will begin a search for a new CEO in due course. Chief Financial Officer Khalid Nabilsi will also join the board and take on expanded management duties. At the other end of the index, Burberry was the top performer, up 3.0%. Defence stocks were under pressure across Europe. In London, BAE Systems and Babcock International were among the biggest losers, down 1.0% and 0.6% respectively. Germany’s Rheinmetall fell 2.8%, Italy’s Leonardo slipped 1.0% and France’s Thales lost 0.3%. Geopolitics remained in focus after a US delegation said it had made progress in ceasefire talks between Ukraine and Russia held in Berlin. US special envoy Steve Witkoff said discussions covered a 20-point peace plan and economic issues, adding that ‘a lot of progress was made’ and talks would resume. The meeting with Ukrainian President Volodymyr Zelensky lasted more than five hours, though specific proposals remain undisclosed. Later on Monday, German Chancellor Friedrich Merz and Zelensky are due to attend German-Ukrainian economic talks, while European leaders are expected to gather in Berlin in the evening. On the FTSE 250, Frasers Group surged 7.9% after announcing a share buyback of up to £70.0 million, starting immediately and running through to April 24, 2026. Among smaller caps, Chariot jumped 10% after completing what it described as a ‘significant’ non-dilutive financing and reaching financial close on two large wind generation projects in South Africa. The company said the move marks its entry into utility-scale wind assets and creates future generation and trading revenue streams. Chariot holds a 24% stake in the 100-megawatt Zen and 94-megawatt Berg River wind farms through its Chariot Generation & Trading subsidiary, alongside Acciona SA and H1 Holdings. The projects are due to move into construction imminently and are scheduled for commissioning in mid-2027. Mkango rose 8.7% after saying its HyProMag USA subsidiary has improved the valuation and economics of its expanded DallasFort Worth rare-earth magnet recycling plant and begun a strategic review to explore a potential US listing in late 2026 or early 2027. In European equities, the CAC 40 in Paris was up 1.1% at midday, while the DAX 40 in Frankfurt was up 0.5%. Data from Eurostat showed eurozone industrial production beat expectations in October, rising 0.8% month-on-month, well ahead of consensus forecasts for a 0.1% increase. The highest monthly increases in the eurozone were recorded in Ireland with 4.0%, followed by Luxembourg with 3.6% and Croatia with 3.1%. The worst declines were in Belgium with 3.4%, followed by Slovakia with 2.5% and Italy with 1.0%. Annual industrial production growth in the eurozone sped up to 2.0% in October from 1.2% in September. Stocks in New York were called higher. The Dow Jones Industrial Average, the S&P 500 index and the Nasdaq Composite were all called up 0.5%. The yield on the US 10-year Treasury was quoted at 4.16%, narrowing from 4.19%. The yield on the US 30-year Treasury was quoted at 4.83%, narrowing from 4.86%. Brent oil was quoted at $60.85 a barrel at midday in London on Monday, down from $61.30 late Friday. Gold was quoted at $4,340.10 an ounce, up from $4,291.08. Still to come on Monday’s economic calendar are Canadian consumer price inflation and manufacturing sales data, along with the US New York Empire State manufacturing index. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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