FTSE 100 Live: Index Trades Above 10,050 as Next Jumps 3% and Miners Extend Gains

The FTSE 100 opened positively on Tuesday, rising 52 points to 10,056.35 and above the January 2 record close. The move builds on the index’s strongest close to date, with gains driven by strength in retail and mining stocks.

Gainers Lead the Index

Retailer Next was the standout performer, with shares rallying 3.20% to £14,025 after the company upgraded its full-year profit outlook following stronger-than-expected Christmas trading. The shares are up 45% over the past year. 

Richard Hunter, head of markets at Interactive Investor, said: “In investment terms, Next is the gift that keeps on giving.” 

Antofagasta gained 1.62% to £3,515, while Anglo American advanced 1.59% to £3,192, benefiting from improved risk appetite and firmer base metal prices.

Rentokil Initial added 2.11% to £454.50.

Stocks Facing Pressure

Games Workshop slipped by 1.19% to £18,300, while RELX fell 1.59% to £3,041. 

Consumer staples also saw mild weakness, with Unilever easing 0.63% to £4,669 and Coca-Cola Europacific Partners down 0.62% to £6,450. 

Spirax Group also saw a decline of 0.66% to £6,810.

Economic and Corporate Updates

Data shows an increase in UK shop price inflation in December, with food prices as the key contributor, and deflation for non-food prices because of extensive promotions.

2025 saw a 3.5% increase in UK new car registrations, with the sales of electric vehicles up by nearly 24%, which shows that the EV transition remains strong.

On the corporate front, Prudential announced  a $1.2 billion share buyback plan, showing the company's commitment to returning money to shareholders, while Jaguar Land Rover reported a significant decline in sales for the quarter due to production issues resulting from a cyberattack.

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Market Drivers and Global Cues

The US stock market closed positively with the Dow Jones Industrial Average gaining 1.2% while the S&P 500 and the Nasdaq Composite went up by 0.6% and 0.7%, respectively. In Asia, the Nikkei 225 in Tokyo also gained 1.3%. 

The Shanghai Composite was 1.4% up in China, and the Hang Seng Index in Hong Kong increased 1.6%. However, the S&P/ASX 200 in Sydney dropped by 0.5%. 

Gold prices went up, showing the demand for safe-haven assets. Brent crude oil price went down slightly and is now about $61.5 a barrel. The British Pound had a slight recovery against the US dollar and was trading close to $1.356.