The FTSE 100 rose by 0.7% on Thursday, reflecting a positive atmosphere in European markets. This increase was largely attributed to the announcement that the United States plans to refrain from imposing new tariffs on European allies following a framework deal regarding Greenland.
Market Performances Across Europe
Other major European indexes also experienced gains. The DAX and CAC 40 each saw an increase of 1.2%, while the STOXX 600 enjoyed a 1.1% rise.
Bank Stocks Surge
In London, bank stocks performed particularly well in response to the easing trade tensions. Key performers included:
- Barclays: +2.2%
- NatWest: +1.6%
- Lloyds: +1.5%
Miners Experience Decline
Conversely, the mining sector struggled. This downfall coincided with a pause in gold’s price rally. Notable declines included:
- Antofagasta: -1.8%
- Rio Tinto: -1.8%
- Fresnillo: -1.5%
Biggest Movers in the FTSE 100
Among the most significant gainers within the FTSE 100, St James’s Place led with a remarkable 2.9% rise. Other notable performers included:
- Land Securities: +2.8%
- IMI: +2.7%
On the downside, Beazley was the biggest laggard, declining by 3%. Rio Tinto and Antofagasta also featured among the weakest performers.
Corporate Updates
In corporate news, Associated British Foods reported a revenue of £6,759 million for the 16 weeks ending January 3, 2026. This figure was consistent with previous estimates but showed a 1% decline when adjusted for constant currency.
B&M European Value Retail adjusted its full-year 2026 EBITDA forecast downward. Despite stronger sales in December, the company now anticipates an adjusted EBITDA between £440 million and £475 million, a reduction from an earlier projection of £470 million to £520 million. This revision was attributed to ongoing investments and challenges faced by its Heron Foods division.
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