Gold today traded above $5000 an ounce for the first time after safe haven demand and a weaker dollar lifted the price by another 2%.
Meanwhile, the Nikkei 225 fell 1.8% after the yen rallied on speculation over possible currency intervention.
On the corporate front, Ryanair has lifted its passenger traffic guidance for the current financial year.
Market update: FTSE 100 steady amid currency focus, Reckitt down 4%
10:13 , Graeme EvansGold’s $5000 landmark, fresh dollar weakness and a 1.8% fall for the Nikkei 225 today occupied traders in a session when the FTSE 100 index held its ground.
Tokyo’s stock market reverse came as exporters including Toyota suffered due to a stronger yen, reflecting weekend speculation over possible currency intervention.
The forex-driven session was also focused on the weaker performance of the US dollar, which fell to a four-month low against a basket of major currencies.
Sterling’s level of $1.367 was the best since September, while the declining dollar and safe haven demand fired the gold price over $5000 an ounce for the first time.
Stocks with US exposure struggled within the FTSE 100 index, which stood 5.54 points lower at 10,137.90.
Reckitt Benckiser fell 4% or 264p to 5754p at the bottom of the top flight, while Experian lost 71p to 2958p and hotels group IHG retreated 2.75p to 134.25p.
The blue-chip index benefited from the support of mining stocks, including Anglo American after a rise of 2% or 54p to 3432p.
Gold-focused Fresnillo and Endeavour Mining topped the FTSE 100 for another session, lifting 3% on the back of today’s 2% advance for the precious metal.
AJ Bell investment director Russ Mould said: “In less than 18 months bullion has more than doubled in value – buoyed by central bank demand, global turmoil, dollar weakness, and the diminished appeal of other popular defensive assets.
“The odds of another US government shutdown look to have increased as Democrats say they will block the federal spending package over the fallout from the Trump administration’s immigration crackdown.”
The week ahead includes the US Federal Reserve’s latest policy meeting and quarterly results from a number of the big US tech names, including Apple.
Hospitality business closures jump amid cost pressures
10:08 , Graeme EvansThe hospitality sector saw 382 net closures – the equivalent of four each day – in the final three months of 2025, data from NIQ showed today.
The closures, which particularly impacted restaurants and casual dining businesses, represented a downbeat end to the year after “slight growth” in the number of venues over the first nine months of the year.
Experts linked the fall, which took place at a key trading period, to continued inflation for many major costs, as well as fragile consumer confidence and spending.
S4 Capital shares rally on improved outlook
10:01 , Graeme EvansThe shares of Sir Martin Sorrell’s advertising group S4 Capital have rebounded after the company said a decline in full-year revenue was not as bad as first feared.
The firm – founded by former WPP boss Sir Martin – confirmed full-year trading was ahead of previous gloomy guidance, with like-for-like net revenues now expected to have fallen by about 8.5%.
It had warned in November over a revenue drop of just under 10%. Shares surged by 35% but remain a fifth lower over the past year.
Spire Healthcare confirms buyout talks, shares up 15%
09:27 , Graeme EvansThe FTSE 250-listed shares of Spire Healthcare have jumped 15% after the company confirmed it was in talks with a number of buyout firms.
The interested parties include Bridgepoint and Triton Investment Advisers.
The company, which runs 38 hospitals and over 50 clinics, medical centres and consulting rooms across England, Wales and Scotland, said: “There can be no certainty that any offer will be made for the company nor as to the terms of any offer, if made.”
The discussions with the buyout parties are in the context of a strategic review, which Spire announced in September.
The shares rose 27.3p to 205.5p, which compares with 229p at the end of November.
FTSE 100 higher, gold miners maintain strong run
08:24 , Graeme EvansThe FTSE 100 index has risen 0.2% or 24.17 points to 10,167.61, with the shares of gold-focused Endeavour Mining and Fresnillo up by another 4%.
The Nikkei 225 closed 1.8% lower, with Toyota Motor down 4% as a surge in the yen on speculation over possible currency intervention impacted exporters.
Richard Hunter, head of markets at Interactive Investor, said: “Currency markets have moved centre stage as equity investors retreated after a bruising and volatile week which brought geopolitical concerns back to the top of the agenda.”
Reckitt Benckiser shares have fallen 2% or 120p to 5898p at the bottom of the FTSE 100, while Burberry is down 9.5p to 1186p.
Lloyds Banking Group, which is due to post annual results on Thursday, rose half a penny to 102.3p.
The perfect storm fuelling London’s housebuilding crisis
07:37 , Graeme EvansLabour has vowed to build 1.5 million new homes by 2029 — but with construction halted at dozens of sites across the capital, that target looks impossibly ambitious.
Latest figures from housebuilding analysts Molior London show work started on only 5547 private new homes last year. That is down 84% in a decade from the 33,782 which were begun in 2015.
Business editor Jonathan Prynn reports on the perfect storm fuelling London’s housebuilding crisis.
Ryanair lifts full-year passenger estimate
07:13 , Graeme EvansRyanair today bolstered its full-year outlook after third quarter results showed passenger growth of 6% to 47.5 million in the three month period.
The airline expects traffic for the year to grow 4% to almost 208 million passengers, up one million on its previous guidance due to strong demand and earlier than expected Boeing deliveries.
Fares are trending ahead of the prior year and will exceed the 7% annual growth previously guided by 1% or 2%.
At this stage, the airline continues to see an underlying pre-tax profit in a range of 2.13 billion euros to 2.23 billion euros (£1.85 billion-£1.94 billion).
The figure for the third quarter fell against tough comparatives, down 22% to 115 million euros (£99.8 million).
Gold tops $5000, Nikkei 225 down 1.8% after yen rise
07:01 , Graeme EvansGold today traded above $5000 an ounce for the first time after safe haven demand and a weaker dollar lifted the price by 2% in Asia dealing hours to $5105.
The pressure on the greenback left the dollar index at a four-month low, with sterling at $1.366 for its highest level since September.
European futures are pointing lower although the FTSE 100 index is seen slightly higher after closing 6.61 points lower on Friday.
The S&P 500 index ended slightly higher, while the Nasdaq Composite finished up 0.3% and the Dow Jones Industrial Average stood 0.6% lower.
The Federal Reserve concludes its next policy meeting on Wednesday, with a no-change decision on interest rates widely expected.
The Nikkei 225 fell 1.8% today after the yen rallied on speculation over possible currency intervention by Japan’s central bank in co-ordination with the New York Federal Reserve.
IG said: “New York Fed rate checks and signs of US-Japan coordination prompted investors to unwind short yen positions, lifting the currency around 3% from Friday’s lows.
“A stronger yen weighed on Japanese stocks, with the Nikkei down close to 2%, while US and European equity futures edged lower as risk appetite cooled.”
