London’s stock market opens 2026 on a historic high, with the FTSE 100 surpassing 10,000 points for the first time.
The index hits an intraday peak of 10,037 and trades around 9,988 by 10:00 GMT. This follows a 22% gain in 2025, its strongest annual performance since 2009.
The FTSE 250 rose 0.2%, to 22,506, while the AIM All-Share added 0.5%, to 769.91. Early trading continues last year’s momentum, even as volumes remain low following the holiday break.
Defence stocks lead gains, with Rolls-Royce up 3.4%, Babcock 2.7% and BAE Systems 2.4%, as investor attention centres on Ukraine-Russia peace talks after President Volodymyr Zelensky said a deal is “90% ready,” though key territorial issues remain unresolved, and ongoing US-led diplomatic efforts sustain safe-haven demand in the sector.
Seplat Energy rose 3.5% after Maurel & Prom sells its 20.07% stake to Heirs Energies for $496 million. An additional $10 million is potentially payable depending on share performance. The deal covers 120.4 million shares at 305 pence each, with half payable immediately and the remainder within 30 days. Maurel & Prom highlights the sale allows it to focus on direct oil and gas investments.
On AIM, Tap Global shares fell 15% despite reporting narrower annual losses and rising revenue. Pretax losses decline to £5.7 million from £18.2 million, revenue rises 31% to £3.5 million, and registered users increase to 391,000.
Overall, early trading has seen investors leaning into defence and energy, while the broader market rides the momentum from last year, buoyed by global risk appetite, commodity strength, and renewed demand for blue-chip stocks.