FTSE 100 index hits record high

The blue-chip index closed 0.8% higher at 9940.7 points to hit a historic high for the first time in nearly seven weeks, while the mid-cap FTSE 250 index eked out a 0.7% gain

London’s FTSE 100 index hit a record high in quiet trading on Tuesday, the final session of 2025, supported by gains in banks and commodity-linked stocks with the index approaching its best annual showing in 16 years.

The blue-chip index closed 0.8% higher at 9940.7 points to hit a historic high for the first time in nearly seven weeks. The mid-cap FTSE 250 index eked out a 0.7% gain.

On the day, shares of Fresnillo jumped 6.8%, while Glencore, Anglo American and Rio Tinto added between 1.3% and 2.5% as gold, silver and copper prices recovered from Monday’s lows.

An index tracking precious metal miners rose 4.3% to hit a record high, while that on industrial metal miners rose 2%, leading gains among sub-sectors.

Oil major Shell and BP increased nearly 0.9% each, tracking higher oil prices.

Banks also supported the rally, with HSBC, Barclays, Lloyds Banking Group and Standard Chartered up between 0.8% and 1.6%.

In corporate news, Ocado said the exclusivity of its agreements to provide retailers with pickup and dispatch technology has ended as previously signalled, allowing it to sign on more partners. Its shares closed 0.3% higher.

Volumes on London exchanges stood at 343.2 million shares, compared with a 20‑day average of 1.76 billion, according to LSEG data. Trading activity has remained below average since last week as investors were away during the holiday‑shortened Christmas and New Year period in the country.

Local markets will close early on Wednesday for New Year’s Eve and remain closed on Thursday, January 1.