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UK's FTSE 100 hits record close as US shutdown nears end
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UK's FTSE 100 hits record close as US shutdown nears end
Nov 12, 2025 9:37 AM

*

FTSE 100 up 0.1%, nearing 10,000 mark

*

FTMC closes near flat

*

SSE climbs to record high after unveiling 33 bln-pound

plan

(Updates after market close)

Nov 12 (Reuters) -

London's FTSE 100 logged a third consecutive record close,

supported by gains in utilities and mining shares as investors

welcomed signs of a potential end to the prolonged U.S.

government shutdown.

The blue-chip index closed 0.1% higher, within

striking distance of the 10,000 mark. The mid-cap index FTSE 250

was down 0.7%.

Leading Wednesday's gains, the utilities sector

advanced 4% as SSE surged 16.8% to a record

high after unveiling a 33 billion-pound ($44.29 billion)

five-year investment plan

to upgrade the UK's regulated electricity networks and

expand its renewable business.

Metal miners gained 1.3% as copper prices

strengthened in global commodity markets.

The improved market sentiment followed growing optimism

that the U.S. House of Representatives may soon vote

to end the government shutdown

that has disrupted crucial economic data releases. A

resolution would provide greater clarity for the Federal

Reserve's future interest rate decisions.

Back in the UK, investment banking stocks

fell 1.7% with 3i Group ( TGOPF ) in the lead with 3.3% losses.

Industrial shares declined 2%, with

credit data specialist Experian ( EXPGF ) dropping 4.9% despite

forecasting full-year revenue growth of 11%, the upper end of

its outlook range.

Homebuilders declined 2.3%. Taylor Wimpey's

shares fell nearly 4% after reporting a softer autumn

selling season as British buyers hesitated ahead of the budget

announcement.

Energy shares fell 1% as oil prices dipped,

with oil majors BP and Shell dropping 1.7% and

0.7%, respectively.

Market participants are awaiting Thursday's preliminary UK

GDP figures for the third quarter, which will offer key insights

into the nation's economic health before the government's budget

announcement later this month.

Among other stocks, Smithson Investment ( STINF ) rose 7%

after announcing plans to convert its assets into an open-ended

fund, while Avon Technologies ( AVNBF ) jumped 6.3% to a

five-year high following an upbeat fiscal year outlook.

($1 = 0.7451 pounds)

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