London stocks opened higher on Tuesday, with the FTSE 100 up around 0.5% at 10,061.46, extending gains from yesterday’s record close above 10,000.
The FTSE 250 was flat around 22,594.70, and the AIM All‑Share was up about 0.2% at 776.24 by 10:00 GMT, with several blue‑chip movers helping drive early gains.
Retailer Next was one of the standout performers, climbing around 3.2% after reporting stronger‑than‑expected Christmas trading and lifting its full‑year profit guidance for the fifth time this year.
The company said full‑price UK sales rose around 5.9% and international sales jumped about 38% in the nine weeks to December 27, adding around £51m to full‑price sales and prompting analysts to revise earnings forecasts higher.
Other risers in early trade included grocery stocks, with Tesco up about 1.7% and J Sainsbury’s up roughly 1.6%, supported by data showing overall grocery sales up 3.8% in the four weeks to December 28. Ocado led the FTSE 250, jumping close to 6.9%, highlighting stronger sales momentum in the sector.
JD Sports Fashion fell 6.0% after Bank of America cut its rating to ‘neutral’ from ‘buy’ and lowered its price target, Auto Trader slipped about 2.0% following a downgrade from Jefferies, and Man Group climbed roughly 4.9% after multiple buy-side price target upgrades.
Among smaller companies, Proteome Sciences jumped roughly 17% after signing new contracts worth more than $1.5m, expected to result in trial samples being shipped in the first quarter of the year.
Inflation remains in focus, with the British Retail Consortium reporting shop price inflation ticked up in December to around 0.7% and food inflation rising to roughly 3.3%, up from November, highlighting persistent pressure on households.
Investors are also monitoring geopolitical developments, after US President Donald Trump said he does not expect a new election in Venezuela within the next 30 days, stressing the need to stabilise the country before voting can take place, a backdrop that has helped lift defensive and commodity-linked sectors on the FTSE.