FTSE 100 Live: Index Slips From Record High as Vodafone Upgrade Offsets Broader Market Weakness

The FTSE 100 edged lower, retreating from the record highs set in the previous session as investors locked in profits and reacted to mixed global cues. The blue-chip index slipped 0.2% or 15 points, to trade at 10,107.50.

Stocks Driving the FTSE 100

The shares of Vodafone Group gained 2.04% to £102.55. This comes after Berenberg switched to a Buy recommendation with a price target of £119.

Berenberg said it was increasingly confident that the mobile phone giant can execute well in its core markets, adding that the company has substantial future capacity for value-creation opportunities.

AstraZeneca, the healthcare giant, saw 1.24% increase to £14,412. Rolls-Royce Holdings marked an increase of 1.05% to £1,257, continuing its recent run, backed by strong order visibility and cash-flow expectations.

The military tech company BAE Systems raised its share price by 1.01% to £1,900.50 while Babcock International's share price rose by 1% to £1,402, supported by the continuous optimism regarding the defence sector.

On the downside, NatWest Group fell 2.5% after analysts at Barclays cut their stance to Equalweight.

Retail and consumer names were softer, with Next slipping about 0.63% to £14,175 and Unilever dipped 0.93% to £4,700.

Commodity-linked stocks also struggled. Fresnillo dropped 2.34% to £3,592 as gold prices eased, while Shell declined 1.89% to £2,695 amid weaker oil prices.

Topps Tiles Extends Sales Growth Despite Cost Pressures

Topps Tiles' price increased 2%, driven by positive results of the trade channel, where sales rose by 3.7%.

The new CEO, Alex Jensen, who has been in charge since December, expressed his optimism regarding the company's prospects and said that the group is ready to achieve more strategic and financial advances within the next year.

vThe shares of Topps Tiles have risen by more than 25% since November, making it one of the best-performing stocks.

Asia Weakness, Wall Street Strength

Japan’s Nikkei 225 fell 1%, while South Korea’s Kospi rose 0.6% to 4,551.06. Both markets had hit record levels a day earlier.

In Australia, the S&P/ASX 200 edged up 0.2% to 8,695.60. China was subdued, with Hong Kong’s Hang Seng down 1.1%.

Wall Street, however, continues to set the pace. US stocks climbed again on Tuesday, led by technology names. The Dow was up 1%, while the S&P 500 rose 0.6%. The tech-focused Nasdaq added 0.6%.

Also Read: Budget 2026: Inflation Slide Sets Stage for RBI’s Next Big Move

Commodities and Macro Backdrop

In the commodities market, Brent crude dropped by 1% to around $60 per barrel. The market sentiment was influenced by the possibility of more Venezuelan oil being shipped globally.

Gold was down 0.8%, while silver fell more sharply; this suggests decreasing safe-haven interest. The bond market was quiet with only a slight rise in US Treasury yields because of the upcoming Federal Reserve meeting.

Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp