- FTSE 100 up 50.6 points at 9,350.43
- Record closing high and intraday high reached
- Close Brothers and Asos disappoint
- AG Barr fizzes
4.55pm: FTSE finishes big quarter
The FTSE finished at a new all-time closing high of 9,350.43, after adding almost 51 points on the day.
A few minutes earlier, a record intraday high of 9,363.57 was hit too.
Over the month of September, the index added 163.09, around 1.7%.
Over the third quarter of 2025, which started in July at just over 8,760, the Footsie rose 589 points or 6.7%.
That compares to the 2.1% gain in the second quarter and is back to the form seen at the start of the year and the 6% rise in the first quarter.
4.30pm: FTSE hits new high despite no help from oil giants
The FTSE 100 has bagged a new all-time high, topping its previous peak of 9,357.51 from 22 August.
We have to wait 15 more minutes to confirm the closing level but it looks likely to notch a new record there too, above 9,321 on that same August day.
Top risers for the London index are Airtel Africa, Reckitt Benckiser, GSK, Melrose Industries and Rentokil Initial.
Also, only all but four (Shell, Rio Tinto, BP and Barclays) of the 20 largest companies in the index are ending in green today.
Meanwhile, gold retreated from its own record high of $3,871/oz.
Shell and BP are being tugged lower as oil prices continued their decline - down more than 4% in the past couple of days, with Brent at just over $66 a barrel now - due to concerns about oversupply.
3.29pm: US data not brilliant
US consumer sentiment lost momentum in September, with the Conference Board’s consumer confidence index falling to 94.2 from a revised-up 97.8 (from 97.4).
Stephanie Guichard, senior economist at the Board, said: "Consumers’ assessment of business conditions was much less positive than in recent months, while their appraisal of current job availability fell for the ninth straight month to reach a new multiyear low."
Meanwhile, the US Job Openings and Labor Turnover Survey (JOLTS) for August did not show a material change in hires, layoffs, and open positions.
As such there are minimal implications for the Federal Reserve, says Ryan Sweet, chief US economist at Oxford Economics.
"The Fed has a bias to cut unless the labor market shows signs of improvement but fog the central bank sets monetary policy could get thicker because the partial federal government shutdown could delay the release of the September employment report."
Overall, he said it lends "some downside risk" to his forecast for a net 85K increase in the nonfarm payrolls report for September. The consensus forecast is for around 50K job additions.
2.49pm: US stocks open lower, FTSE climbs
Wall Street's main indices started in the red.
While the Dow Jones has since clawed its way into the green, up 27 points or 0.05% at almost 46,343, the S&P 500 and Nasdaq are down 0.07% and 0.15% still.
The domestically focused small and mid-cap Russell 2000 is down 0.1% too.
Among the big names of the S&P, Nvidia, Microsoft, Alphabet, Amazon, Meta and Tesla are all in the red.
Back in London, the FTSE 100 is getting stronger, with the index almost at all-time high.
2.26pm: US to start in red
New York stock futures were in the red ahead of the opening bell, as a potential US government shutdown looms.
Dow Jones futures are down 0.15%, with S&P 500 and Nasdaq futures down either side of 0.1%.
The dollar has extended its pullback, with the DXY index down to 97.82.
Investors are digesting the possibility of key economic data delays if Republicans and Democrats fails to strike a budget deal in Washington by midnight tonight.
The Trump administration is threatening to not just furlough thousands of government workers but also make some lay-offs too.
"Investors are once again contending with a high probability of a US government shutdown," warned Trade Nation’s David Morrison, as confidence in Friday’s jobs data being published continues to fade.
12.15pm: FTSE turns positive
The FTSE has broken into positive territory.
Rentokil Initial is top of the leaderboard, followed by Airtel Africa, Reckitt Benckiser, JD Sports and 3i Group.
Defence and aerospace names Melrose Industries, Babcock and Rolls are among the risers too.
Oil giants Shell and BP are continuing to weigh, with oil prices sinking to a week's low.
11.30am: Retail prices climbing
UK retail prices picked up again in September as food prices remained elevated and deflation in non-food items receded.
Annual shop price inflation was 1.4% in September, according to the British Retail Consortium and NIQ, the highest since early 2022, having been in deflation at the start of the year.
Non-food deflation of 0.1% compared to a decline of 0.8% in August and 1% in July.
Food inflation remained at 4.2%, as it was in August, up from growth of 4.0% in July, 3.7% in June and 2.8% in May.
9.15 am: ASOS out of fashion
ASOS may be looking sharper on costs, but investors are focused on the empty tills.
Shares in the online fashion group tumbled nearly 9% to 267p after it warned full-year profits would scrape the bottom of guidance.
Adjusted EBITDA for the year to August is set to come in at £130 million, 5% shy of market forecasts and the weakest end of its £130 million to £150 million range.
Free cash flow is now expected to be marginally positive, but revenues remain the missing piece.
Sales are projected to fall 12% year-on-year, underlining the challenge of reigniting demand despite margin improvements.
Deutsche Bank kept a “buy” rating and a 440p target, noting progress on inventory and costs but warning customer re-engagement “may take longer than expected”.
Peel Hunt also cautioned that investor sentiment hinges on proof ASOS can deliver sales growth alongside profitability.
8.30 am: Close Brothers disappoints
As expected, the blue-chip index nudged into the red as traders fretted over the unfolding chaos in Washington (see below), not helped by a lacklustre session across Asia earlier in theday.
On the corporate front, it was a mixed bag.
If misery loves company, then Close Brothers (down 5%) shareholders are in familiar territory. The merchant bank finally unveiled delayed annual figures this morning... and they were ugly.
A pre-tax loss of £122.4 million for the year to July was far worse than expected, as the group set aside £165 million to cover potential legal and compensation claims tied to historic motor finance commission practices.
The guidance of reduced net interest margin didn't help seniment.
ASOS warned full-year earnings will land at the bottom of guidance, adding to its struggles.
AG Barr fizzed with a 41% rise in half-year profit, Smith & Nephew said its finance chief is relocating to the US, and Legal & General announced a finance director change.
7.30am: Slow start predicted
The FTSE 100 is set to open 11 points lower at 9,289, with traders keeping one eye on Washington as the US edges closer to a potential government shutdown.
Asian markets were subdued. Hong Kong’s Hang Seng slipped 29 points to 26,593, while South Korea’s Kospi eased by a single point to 3,429. Japan’s Nikkei inched up 5 points to 45,049, and both Shanghai and Shenzhen posted modest gains of 0.4% and 0.3%.
The budget deadlock in the US could disrupt the release of crucial economic data if it drags on, though Wall Street started the week positively, helped by a tech rebound.
Gold extended its rally above $3,850 an ounce, supported by rate-cut hopes and concerns over global debt. Oil prices weakened further, with US crude at $63.00 and Brent at $66.58.