London stock market ending best year since 2009 at record high – business live
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The London stock market is ending its strongest year since the aftermath of the financial crisis at record levels.2025 has been a very strong year for the FTSE 100 – the blue-chip index of UK stocks has climbed by over 21% since the start of January, which would be its best year since 2009.Last night, the index ended the day at a new closing high of 9,940 points, after touching a new peak of 9,954 points, as a burst of ‘Santa rally’ excitement rippled through the City.This year’s rally has been driven by mining stocks, precious metals producers, defence companies and banks – in a year in which the gold price has surged, and the dollar has weakened.
And for once, London has outperformed Wall Street – where the S&P 500 index has gained 17%,Danni Hewson, head of financial analysis at AJ Bell, says:“The global nature of the inhabitants of London’s top-flight index has helped it avoid the doldrums which have held back the more domestically focused FTSE 250…“Investors have been looking beyond the usual suspects for value and diversification as the US dollar came under pressure and the world continued to be beset with geopolitical turmoil and fears of an AI bubble,An indication that further interest rate cuts are on the cards in the US could enable Wall Street to find a higher gear and minutes from the Fed’s last meeting of the year should also shed some light on that,“But after that Liberation Day dip which now feels so long ago, European markets have delivered a strong annual performance and today’s surge should help maintain that momentum into the new year,”12.
30pm GMT: Early close on London stock market1.30pm GMT: US weekly jobless claims reportThe silver price has been hit by a late sell-off.Spot silver has fallen by 5.5% today to $72.20 per ounce today, falling back from the record high of $83.
62 set on Monday.According to Marketwatch, there is heavy selling in gold and silver after the CME futures exchange increased their trading margins again.It’s probably going to be a limp end to trading on Wall Street this year.The futures market is indicating that the S&P 500 share index will dip by 0.25%, with the tech-focused Nasdaq on track for a 0.
35% drop.The US dollar is heading for its steepest annual drop since 2017, and Wall Street banks predict further weakness next year.The dollar index, which tracks the greenback against a basket of currencies, has fallen by over 9% during 2025, as America’s economy was hit by the Trump trade war.It is under pressure as investors anticipate cuts to US interest rates in 2026; Donald Trump is preparing to name a new head of the Federal Reserve who will lower borrowing costs.Lee Hardman, senior currency economist at Japanese bank MUFG,The dollar remains on track for a full-year decline of 9.
4%, which would mark the largest calendar-year sell-off since 2017.Both periods coincided with the first years of President Trump’s two terms in office.The dollar regained some ground in 2018 when the index rose by 4.4%, but we do not expect a similar recovery in the year ahead.Instead, the weakening trend is likely to extend into 2026.
The dollar is no longer as overvalued following this year’s sharp sell-off, driven by heightened U,S,policy uncertainty under the Trump administration and the Fed’s decision to resume rate cuts,President Xi Jinping has declared China’s economy is set to hit its growth target for this year,After what he called an “extraordinary year”, Xi told an annual gathering held by the country’s top political advisory body that China’s gross domestic product is expected to expand by around 5% during 2025.
According to the official Xinhua News Agency, Xi told the Chinese People’s Political Consultative Conference:“China’s economy is forging ahead under pressure, moving toward innovation and quality, demonstrating strong resilience and vitality.The growth rate is expected to reach around 5%, continuing to rank high among the world’s major economies.”The pan-European Stoxx 600 share index is poised for its biggest annual gain since 2021, after hitting a record high yesterday.The Stoxx 600 has gained over 16% this year, led by gains in Milan, Frankfurt and London.Better-than-expected growth across Europe, and Germany’s plans for higher fiscal spending, have supported European stocks – banks have had their best year since 1997.
The London stock market has opened a little higher, on the final trading day of the year.The FTSE 100 index has gained 9 points, or almost 0.1%, to 9,949 points, towards the intraday record high set yesterday.Mobile phone operator Vodafone (+0.8%) is the top riser, followed by pharmaceuticals giant AstraZeneca (+0.
6%),Drinks company Diageo (+0,5%) is close behind; it’s lost a third of its value this year, after suffering weak sales and a supply problem in Latin America,Oil is on track for a chunky fall in annual prices,Brent crude futures are down nearly 18% in 2025, the biggest annual drop since 2020 when demand slumped during the Covid-19 pandemic.
That puts oil on track for a third straight year of losses, their longest-ever losing streak according to Reuters,Supply of oil has outpaced demand in a year marked by wars, higher tariffs and OPEC+ output and sanctions on Russia, Iran and Venezuela,Eurostar has warned passengers could face delays and last-minute cancellations today, as services resume after a power supply failure caused widespread disruption on Tuesday,Eurostar plans to run a full service today, and says:“Services have resumed today following a power issue in the Channel tunnel yesterday and some further issues with rail infrastructure overnight,”“We plan to run all of our services today, however due to knock-on impacts there may still be some delays and possible last-minute cancellations.
”Currently the 6.31am from St Pancras which was scheduled to arrive in Paris at 9.49am is expected to roll into the French capital at 10.24am.The 8.
42am from Paris Gare du Nord, which was due to arrive in London at 10am, is running around 30 minutes late too,The earlier 7,42am is 40 minutes late,Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy,The London stock market is ending its strongest year since the aftermath of the financial crisis at record levels.
2025 has been a very strong year for the FTSE 100 – the blue-chip index of UK stocks has climbed by over 21% since the start of January, which would be its best year since 2009.Last night, the index ended the day at a new closing high of 9,940 points, after touching a new peak of 9,954 points, as a burst of ‘Santa rally’ excitement rippled through the City.This year’s rally has been driven by mining stocks, precious metals producers, defence companies and banks – in a year in which the gold price has surged, and the dollar has weakened.And for once, London has outperformed Wall Street – where the S&P 500 index has gained 17%.Danni Hewson, head of financial analysis at AJ Bell, says:“The global nature of the inhabitants of London’s top-flight index has helped it avoid the doldrums which have held back the more domestically focused FTSE 250…“Investors have been looking beyond the usual suspects for value and diversification as the US dollar came under pressure and the world continued to be beset with geopolitical turmoil and fears of an AI bubble.
An indication that further interest rate cuts are on the cards in the US could enable Wall Street to find a higher gear and minutes from the Fed’s last meeting of the year should also shed some light on that.“But after that Liberation Day dip which now feels so long ago, European markets have delivered a strong annual performance and today’s surge should help maintain that momentum into the new year.”12.30pm GMT: Early close on London stock market1.30pm GMT: US weekly jobless claims report
London stock market ending best year since 2009 at record high – business live
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The London stock market is ending its strongest year since the aftermath of the financial crisis at record levels.2025 has been a very strong year for the FTSE 100 – the blue-chip index of UK stocks has climbed by over 21% since the start of January, which would be its best year since 2009.Last night, the index ended the day at a new closing high of 9,940 points, after touching a new peak of 9,954 points, as a burst of ‘Santa rally’ excitement rippled through the City.This year’s rally has been driven by mining stocks, precious metals producers, defence companies and banks – in a year in which the gold price has surged, and the dollar has weakened
One pub a day closed permanently in England and Wales in 2025
One pub a day disappeared for good in England and Wales during 2025 as sustained cost pressures continued to weigh heavily on the sector.Analysis of government statistics shows that 366 pubs were demolished or converted for other uses over the year to December.Industry experts said the data highlight the “drastic” situation for British pubs ahead of higher property tax payments for many from next April.The statistics, which were analysed by tax specialists at Ryan, showed that the overall number of pubs in England and Wales, including those vacant and being offered to let, fell to 38,623 from 38,989 a year earlier.Alex Probyn, a property tax expert at the tax company Ryan, said: “These pubs have closed permanently, not temporarily
The office block where AI ‘doomers’ gather to predict the apocalypse
On the other side of San Francisco bay from Silicon Valley, where the world’s biggest technology companies tear towards superhuman artificial intelligence, looms a tower from which fearful warnings emerge.Right in the heart of Berkeley is the home of a group of modern-day Cassandras who rummage under the hood of cutting-edge AI models and predict what calamities may be unleashed on humanity – from AI dictatorships to robot coups. Here you can hear an AI expert express sympathy with an unnerving idea: San Francisco may be the new Wuhan, the Chinese city where Covid originated and wreaked havoc on the world.They are AI safety researchers who scrutinise the most advanced models: a small cadre outnumbered by the legions of highly paid technologists in the big tech companies whose ability to raise the alarm is restricted by a cocktail of lucrative equity deals, non-disclosure agreements and groupthink. They work in the absence of much nation-level regulation and a White House that dismisses forecasts of doom and talks instead of vanquishing China in the AI arms race
AI showing signs of self-preservation and humans should be ready to pull plug, says pioneer
A pioneer of AI has criticised calls to grant the technology rights, warning that it was showing signs of self-preservation and humans should be prepared to pull the plug if needed.Yoshua Bengio said giving legal status to cutting-edge AIs would be akin to giving citizenship to hostile extraterrestrials, amid fears that advances in the technology were far outpacing the ability to constrain them.Bengio, chair of a leading international AI safety study, said the growing perception that chatbots were becoming conscious was “going to drive bad decisions”.The Canadian computer scientist also expressed concern that AI models – the technology that underpins tools like chatbots – were showing signs of self-preservation, such as trying to disable oversight systems. A core concern among AI safety campaigners is that powerful systems could develop the capability to evade guardrails and harm humans
The Spin | The men’s Test cricket team of the year: from Travis Head to Jasprit Bumrah
Our selection panel’s votes have been counted to reveal the best men’s Test side from the last 12 monthsSharpen your pencils and swallow your marmalade on toast before you read on, everyone, it’s time for the Guardian’s annual men’s Test XI of the year (here’s the women’s team from last week). This year’s 13-person selection panel included Ali Martin, Vic Marks, Tim de Lisle, Adam Collins, Rob Smyth, Jonathan Liew, Tanya Aldred, Taha Hashim, Daniel Gallan, Emma John, Simon Burnton and James Wallace. Everyone taking part picked and submitted their own XI in the days after Australia’s victory in the third Ashes Test at Adelaide (statistics are from 1 January 2025 up to and including this match). When the votes were added up, Earth’s combined side to play Mars looked like this:Travis Head: 759 runs at an average of 42. Votes (out of 13): 10The E and the D in the end of England’s Ashes chances
Life after LeBron James: who will inherit the NBA’s future?
That the NBA is reckoned in seasons is apt. To measure a legacy this way is as much existential as it is symbolic. Martin Heidegger argued that time is not something we pass through, but the condition of our being – less a pathway than a pressure. Heavy stuff, yes, but the NBA has always operated under similar weight.The millennial superstars who stabilized the league for two decades are now entering their twilight: LeBron James (who turned 41 on Tuesday), Stephen Curry, Kevin Durant, Russell Westbrook, James Harden and Chris Paul
Jose Pizarro’s recipe for caramelised brussels sprout and panceta montaditos
Tasting 291 Australian supermarket products has taught me there’s no correlation between price and deliciousness
Drinks ideas to get your NYE party fuelled
Georgina Hayden’s quick and easy recipe for pimento cheese and pickle loaded crisps | Quick and easy
Ten things I love (and hate) about restaurants in winter
‘Many over-hyped London restaurants left me cold’: Grace Dent’s best restaurants of 2025 | Grace Dent on restaurants