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
21 minutes ago
- The Independent
Is it time the BrewDog beer empire went flat?
When it launched in 2007, craft beer BrewDog was a 'punk' brand. It's a word that featured on many of the cans of its IPA sold at the Fontaines DC show at Finsbury Park earlier this month, and at summer festivals across the land. It's a sign of something young, cool, edgy. What's not so cool is abruptly closing 10 bars, including BrewDog's flagship outlet in Aberdeen, some within a matter of days. 'Morally repugnant,' said the union Unite, which represents some of the workers whose livelihoods have been affected by the closures. True, companies sometimes have to close outlets when they're losing money, especially if the wider group is in the red and really can't afford to be subsidising places that aren't washing their faces financially. That's the harsh reality. But while that sort of decision is always going to hurt the workers on the receiving end, there are ways and means of handling these things. Unite has raised questions about the firm's tactics, telling the BBC that this is: 'Yet another example of a company that doesn't have the slightest regard for basic employment law, let alone the welfare of their workers.' It says it is working with the affected workers to challenge the decision, legally if necessary. BrewDog was an entertaining and innovative start-up that became a big success, planting its flag overseas and tweaking the nose of the establishment along the way. It had an original way of garnering finance by creating 'equity punks' through crowdfunding. These supporters turned up at sometimes raucous AGMs. The group also had a keen eye for PR stunts. Its critics obligingly went into meltdown when the company launched nuclear-strength beers. In recent years, however, the brand has acquired a coat of tarnish. In 2021, former workers wrote an open letter highlighting what they claimed was a "culture of fear" within the business while alleging "toxic attitudes" towards junior employees. The following year, a BBC investigation aired allegations of inappropriate behaviour on the part of co-founder and now-former CEO James Watt. These were denied. But Ofcom rejected a complaint made by Watt and the company against BBC Scotland on the grounds of 'fairness and privacy'. It said: 'Ofcom's decision is that material facts were not presented, disregarded or omitted in a way that was unfair to the complainants, that they had an appropriate and timely opportunity to respond to the allegations made in the programme, and that their response was fairly reflected in the programme.' Then last April, Watt – who publicly opposed Brexit – was pictured at Nigel Farage's 60th birthday party. Now, I want to be clear here: I really couldn't care less who his friends are, or whose parties he chooses to go to. Business leaders need to engage with all sides for the health of their companies. That's lobbying. It's silly to huff and puff when they do that. But partying with a polarising figure that a large chunk of your customer base reviles is different. The optics are not good. It's a poor business decision. And it was only a few weeks after Farage's party that Watt stepped down from the top job at BrewDog, 17 years after he co-founded the Scottish brewer. The company also decided to cease paying the real living wage, based on the cost of living, in favour of the lower rate mandated by the government, citing the need to return to profitability in a tough climate for the hospitality industry. For his own part, Watt has previously decried those who seek a "work-life balance", rather than what he called "work-life integration", suggesting that if you love you work, you don't need to separate it from your personal life. Much of the hospitality sector has been swimming upstream, it is true. Its businesses have been grappling with higher taxes and costs while consumer confidence is at a low ebb. The country's economic challenges have also hit young people particularly hard. If your rent is gobbling up half your take-home pay, you're going to have to limit what you spend on going out. It's a lot cheaper to buy beer from Tesco and invite friends round than it is to meet up at BrewDog. But one also wonders whether at least some of the company's problems are down to the damage the brand has taken. Brands matter. Companies pour vast sums into building them up. History also teaches us how easy it is to blow them up. If customers stop buying into yours because you've been shooting yourself in the foot and causing them to question your authenticity, then you have a problem. No one would bat an eyelid if, say, Brexit-backing Wetherspoon's boss Tim Martin was spotted out on the town with Farage. Martin is who he is, and doesn't much care who knows it. He's authentically Tim. Is that true of Watt and, by extension, BrewDog, which he is still closely involved with even if he's no longer the CEO? How much are you willing to pay for 'punk' beer that isn't really so punk? A beer that is, in reality, part of the establishment but expects you to pay a premium price that the local Wetherspoon's doesn't demand (far from it). I suspect the answer isn't to BrewDog's taste.
The Sun
21 minutes ago
- The Sun
I'm a car expert – here's the BEST used electric cars you can buy for under £10,000 on Sun Motors
A CAR expert has revealed the best used electric cars that you can buy for under £10,000. Battery electric vehicles are often more expensive than petrol or diesel cars, but buying a used EV can help you save thousands of pounds. 6 These are the electric cars that won't break the bank, and are all available on Sun Motors. What is Sun Motors? Sun Motors is a pioneering platform transforming how people purchase used cars across the UK, crafted with customer ease and safety at the core. The marketplace links reputable and trusted dealerships to deliver a smooth and hassle-free car-buying journey from beginning to end. Featuring cutting-edge tools and services such as an AI chat bot on hand to answer any queries about specific cars, the platform simplifies the process of discovering and buying your perfect car. Start your search for your next used vehicle here. Renault Zoe (2012-present) 6 Model: Renault Zoe Parkers say: "The Renault Zoe has long been a popular choice for those wanting an affordable and capable small electric car." "The Zoe is also practical, pleasant to drive, and sensibly equipped." According to Renault, the model has a battery range of 239 miles, which should be fine most people's everyday needs. Kia Soul EV (2014-2019) 6 Model: Kia Soul EV Parkers commented: "The distinctive Kia Soul is often overlooked in the used electric car marketplace. "It's a good buy if you can find one, though, offering a range of up to 132 miles." And it comes with plenty of kit, including climate control, heated seats, cruise control, solar glass, a heat pump, and an eight-inch touchscreen infotainment system. Volkswagen e-Golf (2014-2020) 6 Model: Volkswagen e-Golf The car experts claim that a Volkswagen Golf is always a pretty good shout when it comes to car recommendations, and similarly so if you're looking at used electric cars. They say: "The VW e-Golf is just like the conventional Golf, but it's electric – so as well as being smooth and quiet, it's also familiar, straightforward, and easy to live with." The battery of the Volkswagen e-Golf has a total capacity of 35.8 kWh - and a range of about 115 miles is achievable on a fully charged battery. Nissan Leaf (2011-2018) 6 Nissan is already on its second generation of bespoke electric cars when many other carmakers have only just launched their first, so you should be able to find one for less than £10k. The battery of the Nissan Leaf has a total capacity of 40 kWh, and an estimated range of about 145 miles is achievable on a fully charged battery. BMW i3 6 Model: BMW i3 When it was launched in 2013, the BMW i3 was an innovative breath of fresh air in the electric car industry. The experts say: "The inside is a particular delight, but performance is great too, especially from the 2017-onwards i3S model. "Range varies, with the earliest cars managing only 120 miles per charge on their best day. But it still looks ultra-modern now, and as long as it's been treated well, the electric version should prove reliable." BMW claims a range depending on options and equipment, of between 177 and 193 miles for both i3 versions. This comes after a car expert revealed how to repair a touchscreen covered in scratches for free using products you have at home. Plus, a legendary Ford Sierra RS Cosworth with super low mileage is set to fetch an eye-watering price at auction. Buying a used car? Check out Sun Motors and find your next vehicle today. Whether you're looking for automatic, manual or electric, use Sun Motors to decide on your next model.
Daily Mail
21 minutes ago
- Daily Mail
Strong dollar and US tech spin-off drive Informa to £254M loss
Informa shares jumped on Wednesday despite the publisher and events organiser slumping to a loss after shouldering a major impairment over the first half. The FTSE 100 firm, which owns academic publisher Taylor & Francis, posted a statutory pre-tax loss of £254.2million, compared to a £237.4million profit over the same period last year. Informa faced a £484.2million non-cash impairment related to its TechTarget business, which was spun-off and listed in the US late last year. The marketing business has seen its share price slump 70 per cent since its December IPO, meaning its market capitalisation has fallen below its net assets and resulting in the impairment TechTarget saw a 4.3 per cent decline in underlying revenues during the first half, which Informa blamed on a 'subdued market backdrop'. Its tech customers are prioritising 'AI-related research and development over investment in product marketing and sales support', according to Information. But the wider Informa business still saw bumper reported revenue growth of 20.1 per cent to just over £2billlion over the period, as it benefited from new product lines as well as strong growth in live business-to-business events and academic markets. And Informa expects momentum to be maintained as it upgraded it full-year underlying revenue growth guidance from around 5 per cent to more than 6 per cent, helped by growth of more than 8 per cent in live business to business events. The upgrade comes despite further weakening of the US dollar, which has fallen roughly 7.6 per cent since the start of 2025. Informa claims that every cent movement in the dollar impacts its revenues by around £18million and adjusted operating profit by roughly £7million on a full year basis. The group also revealed a fresh £150million share buyback programme for the second half, after buying £200million back at an average price of 757p during the first. Boss Stephen A. Carter sad: 'Informa is further increasing the pace of performance, delivering 20 per cent+ growth in our four key performance measures: revenues, profits, earnings and free cash flow.
