FTSE 100 Live: Stock rally cools; Oil tumbles amid Trump tensions
Good morning and welcome back to the Morning Wire liveblog.
The London stock market has opened on a dimmer mood with morning with both the FTSE 100 and FTSE 250 trading into the red. The blue-chip index was hit by the falling price of oil with major stock losses across energy giants Shell and BP.
It follows consecutive upbeat trading sessions for the FTSE 100, which ended Tuesday 1.12 per cent higher at 10,122.73 and cementing its status above the 10,000 milestone.
The blue-chip index was helped by a handful of stocks, namely retail heavyweight Next who rallied four per cent after beating Christmas expectations and the City’s most valuable stock Astrazeneca, which soared five per cent after a positive analyst note from JP Morgan.
Lloyds Banking Group was also able to surpass the 100p mark to reach a 17-year high amid the wider rally.
But growing geopolitical tensions may have pushed investors to the backfoot, with President Donald Trump ramping up pressure on Greenland.
The White House said late on Tuesday it was discussing a “range of options” to acquire Greenland, including the use of military.
This came a mere hours after European leaders – including Prime Minister Sir Keir Starmer – issued a joint statement supporting NATO member Denmark, which Greenland is a semi-autonomous member of.
But it hasn’t stopped Trump doubling down on claims the US “needed” Greenland for security reasons, with Danish Prime Minister Mette Frederiksen warning any attack would spark the end of NATO.
“Greenland belongs to its people, and only Denmark and Greenland can decide on matters concerning their relations,” leaders from UK, France, Germany, Italy, Poland, Spain, and Denmark said on Tuesday.
Here’s a few of our top stories from yesterday
- London Stock Exchange poised for IPO rebound in 2026
- Billionaire Hohn handed £60m dividend and ramps up philanthropy
- Nvidia pitches ‘thinking’ cars as UK EV sales soar
- Fiscal drag to push thousands of families into child benefit tax charge
- Employers brace for more layoffs as headcount expectations drop