Footsie closes above 9,000 for first time as round-the-clock trading idea sparks fierce City debate
The UK index climbed 20.87 points, or 0.2 per cent to end the session at 9012.99.
It is up by more than 10 per cent for the year to date.
The Footsie reached the milestone even as politicians and City grandees worry that it is losing its relevance as a global financial centre.
Reforms over the past couple of years have so far failed to revive valuations enough to spare the exchange from being raided by foreign predators.
Some think it should follow rival exchanges in New York, which are already planning to bring in 24-hour or extended trading hours – but opinion in the Square Mile is divided.
Record close: The FTSE 100 climbed 21 points, or 0.2% to end the session at 9013. It is up by more than 10% for the year to date.
The Financial Times reported that parent company London Stock Exchange Group (LSEG) was considering the move.
Michael Healy, managing director of trading platform IG, said 24-hour trading would be 'a welcome and overdue step in the right direction' for the exchange.
He said: 'If London wants to reclaim its place as a leading global financial centre, it must lead on this.'
But Michael Brown at broker Pepperstone said it could have a 'negative impact' on liquidity with trading volumes spread over a longer period resulting in more volatility.
He added that there was 'very little clamour for such a move'.
LSEG declined to comment.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
12 minutes ago
- The Independent
Starmer to urge Trump to end the mass starvation in Gaza
Sir Keir Starmer will plead with Donald Trump to bring about a ceasefire in Gaza and end the suffering of thousands of Palestinians when he meets with the US president in Scotland on Monday. The growing crisis in the Middle East will top the agenda when the two hold their bilateral meeting at President Trump's Turnberry golf course in Ayrshire, with the prime minister under immense political pressure to change the UK's policy on recognising Palestine as a state. It comes after the IDF announced a 'tactical pause' in fighting to allow aid to get in, with thousands of people trapped in Gaza facing mass starvation. On Sunday, Jordan and the UAE carried out the first airdrops of food and essential supplies. A Downing Street source said that the prime minister and the president have a 'shared desire to bring an end to the barbaric war'. The meeting comes after a Sunday bilateral between Mr Trump and European Commission president Ursula von der Leyen at Turnberry, where the two struck a trade deal to avoid a tariff war despite the US president having told reporters beforehand that he was 'not in a good mood'. It was put to Mr Trump that Sir Keir would ask him about a Middle East ceasefire, but he replied: 'We're meeting about a lot of things. We have our trade deal and it's been a great deal. 'It's good for us. It's good for them and good for us. I think the UK is very happy, they've been trying for 12 years to get it and they got it, and it's a great trade deal for both, works out very well. 'We'll be discussing that. I think we're going to be discussing a lot about Israel. They're very much involved in terms of wanting something to happen. [Starmer] is doing a very good job, by the way.' The mini-summit at Turnberry was intended primarily to focus on the continuing problem of steel tariffs imposed by President Trump, and other aspects of the trade deal the two signed last month. Sir Keir also wants to press the president on providing a backstop for the 'coalition of the willing' he is establishing with French president Emmanuel Macron to provide a guarantee of peace in Ukraine once the war with Russia comes to an end. But with harrowing pictures emerging over the past week of malnourished children in Gaza, alongside reports of the impact of starvation in the territory, the Middle East crisis has risen to the top of the agenda. Sir Keir is hoping that the strong personal relationship he has developed with the US president will help him in persuading Mr Trump to move on a number of these issues. The two will continue to talk when they travel together to Aberdeen for a further private dinner at Mr Trump's other Scottish golf course, which is dedicated to his mother. The president is looking for support to host an Open championship. Downing Street has insisted that 'the strength of the UK-US relationship will be on display again' as the prime minister meets President Trump for what it described as 'wide-ranging talks'. But the meeting is likely to be overshadowed by pressure on Sir Keir to join Mr Macron in officially recognising a Palestinian state. There was some speculation on Friday that the prime minister was close to doing so, after 221 MPs signed a cross-party letter supporting the move. Labour's biggest donors, the trade unions, have also collectively demanded action on recognising Palestine. Sir Keir used his strongest language yet on Friday when he described Israel's actions in Gaza as 'unspeakable and indefensible', adding that Palestinians have an 'inalienable right' to their own state. Pressure was further added by Mr Macron's announcement that France was preparing to recognise Palestine as a state, just ahead of an E3 phone call on Friday with Sir Keir and the German chancellor Friedrich Merz. But Sir Keir has held off taking similar action, with some suggesting that he wanted to see what President Trump would have to say about the crisis at their meeting at Turnberry before making a final decision. The problems kicked off further on Sunday, when Live Aid founder and former pop star Sir Bob Geldof clashed with Tory leader Kemi Badenoch on the topic of Israel and Gaza. The two appeared on Sir Trevor Phillips's Sunday morning show on Sky News. When asked about Israeli government claims that there are hundreds of trucks full of aid waiting to get into Gaza that are being held up by United Nations incompetence and Hamas, Sir Bob hit out at Benjamin Netanyahu and his government. 'The Israeli authorities are lying,' he claimed. 'They're lying. Netanyahu is a liar. The IDF are lying.' The comments enraged the Israeli government, which has denied being at fault after reports emerged that more than 110 people have died of hunger during the conflict. Israel has blamed Hamas for 'stealing aid and prolonging the war'. Israel's deputy foreign minister, Sharren Haskel, told The Independent: 'Bob Geldof says that 'we are way beyond' the attack by Hamas on Israel on 7 October 2023. This is complete rubbish. Hamas still holds 50 hostages in their dungeons of torture. They have been held for 660 days. I don't hear Bob Geldof calling for their release?' When Sir Bob's remarks were put to her by Sir Trevor, Ms Badenoch said he was wrong. She said: 'I disagree with that. What I'm seeing is Israel allowing humanitarian aid to go in. This has been an unbelievably difficult situation. It's been heartbreaking seeing some of the pictures, hearing those stories, and what we all want to see is this awful war coming to an end, and that will happen when those hostages are released. We need a ceasefire.' Polling by More in Common has shown that the British public side with Palestinians more than with Israel, by 29 per cent to 15 per cent.
The Independent
12 minutes ago
- The Independent
Prime Minister to meet Donald Trump to discuss ceasefire in Gaza
Prime Minister Sir Keir Starmer is expected to meet US President Donald Trump to discuss a ceasefire in Gaza and an end to the war in Ukraine. On Monday, Sir Keir will travel to Scotland to meet the president on his golf course at Trump Turnberry, Girvan, Aryshire, where he has been playing golf since Saturday morning, and where he met European Commission president Ursula von der Leyen on Sunday afternoon. After a meeting, the world leaders will travel on together for a further private engagement in Aberdeen. Mr Trump will visit the UK again in September for his second state visit. On Monday, the leaders are expected to discuss progress on implementing the UK-US trade deal, hopes for a ceasefire in the Middle East and applying pressure on Vladimir Putin to end the war in Ukraine. They are also expected to talk one-on-one about advancing implementation of the landmark Economic Prosperity Deal so that citizens of both countries can benefit from boosted trade links between their two countries. The Prime Minister is also expected to welcome the president's administration working with Qatar and Egypt to bring about a ceasefire in Gaza. A spokesperson for Number 10 said it was expected they will discuss 'what more can be done to secure the ceasefire urgently, bring an end to the unspeakable suffering and starvation in Gaza and free the hostages who have been held so cruelly for so long'. The war in Ukraine will also be up for discussion with both politicians 'set to talk about their shared desire to bring an end to the barbaric war' according to Number 10, and expected to 'reflect on progress in their 50-day drive to arm Ukraine and force Putin to the negotiating table'. A spokesperson for the UK Government said: 'The UK and the US have one of the closest, most productive alliances the world has ever seen, working together to cooperate on defence, intelligence, technology and trade. 'The UK was the first country to agree a deal with the US that lowered tariffs on key sectors and has received one of the lowest reciprocal tariff rates in the world. 'Businesses in aerospace and autos are already benefiting from the strong relationship the UK has with the US and the deal agreed on May 8. 'The Government is working at pace with the US to go further to deliver benefits to working people on both sides of the Atlantic and to give UK industry the security it needs, protect vital jobs, and put more money in people's pockets through the Plan for Change.'
The Sun
12 minutes ago
- The Sun
Sainsbury's shoppers spot new flavour of beloved Nestle chocolate on shelves for just £2
SAINSBURY'S has sent shoppers into a spin with a brand new sweet treat. Nestle has launched a new vanilla cheesecake Munchies flavor, and they are just £2 a bag in the supermarket. 1 Sharing a snap of the snack on Newfoods UK, one excited customer wrote: "These new Vanilla Cheesecake Munchies are good, not too overpowering with the vanilla flavour! "Now available at Sainsbury's." Other users rushed to agree, with one writing: "These are so good." "Yum! Now I fancy Munchiesss," a second added. "YUM" another echoed. This comes after Nestle added a new twist to another of its favourite chocolate treats. An eagle-eyed shopper spotted the Milkybar Buttons Crispy Cookie White Chocolate Sharing Bag at their local Sainsburys. With hundreds of comments flooding in, the sharing bag is clearly a hit among chocolate lovers. And for just £2 it's the perfect opportunity to try out the sweet treat with friends and family. The new crispy cookie flavour is described as "white chocolate pieces with crispy cocoa flavoured rice inclusions". It includes their beloved " smooth white chocolate". A description from Milkybar adds: "No wonder we are the nation's favourite white chocolate brand." Inspired by a bakery, the new flavour offers an exciting texture with the rice inclusions. For those looking to stick to the classic flavours, Sainsburys also sell the Milkybar White Chocolate Giant buttons for £2. You can even get a supersized bag for just £2.50 with Nectar. It's part of a wider range of white chocolate products sold by the brand. Nestle offer a plethora of sharing pouches across their range of chocolates. For those looking for milk chocolate, the Aero Melts Milk Chocolate might be a good choice. How to save money on chocolate We all love a bit of chocolate from now and then, but you don't have to break the bank buying your favourite bar. Consumer reporter Sam Walker reveals how to cut costs... Go own brand - if you're not too fussed about flavour and just want to supplant your chocolate cravings, you'll save by going for the supermarket's own brand bars. Shop around - if you've spotted your favourite variety at the supermarket, make sure you check if it's cheaper elsewhere. Websites like let you compare prices on products across all the major chains to see if you're getting the best deal. Look out for yellow stickers - supermarket staff put yellow, and sometimes orange and red, stickers on to products to show they've been reduced. They usually do this if the product is coming to the end of its best-before date or the packaging is slightly damaged. Buy bigger bars - most of the time, but not always, chocolate is cheaper per 100g the larger the bar. So if you've got the appetite, and you were going to buy a hefty amount of chocolate anyway, you might as well go bigger.
