Published by Global Banking & Finance Review®
Posted on January 9, 2026
2 min readLast updated: January 20, 2026
Add as preferred source on GoogleFTSE 100 hits record high after US jobs data and Glencore's merger talks with Rio Tinto boost the mining sector.
Jan 9 (Reuters) - UK's FTSE 100 clocked a record high close on Friday as global sentiment got a lift from a U.S. jobs report which kept future Federal Reserve interest cuts on the table, and Glencore shares topped the index on the prospects of a merger.
The miner's shares jumped 9.6% to their highest since July 2024 following news it is in talks with Rio Tinto, about a takeover that would create the world's largest mining group, valued at almost $207 billion.
London-listed shares of Rio closed 3% lower.
The blue-chip FTSE 100 recorded its second straight weekly gain and its highest ever close of 10,126.6 points, marking a 0.8% gain on the day.
The pan-European STOXX 600 index also climbed almost 1% to an all-time high.
Global risk appetite firmed after data showed U.S. employment growth slowed more than expected in December, with traders still pricing in about 54 basis points of easing in 2026, according to data compiled by LSEG.
Energy gained 2.8%, among the biggest boosts to the FTSE 100, tracking higher crude oil prices.
British midcaps also climbed 0.6%, hovering near their highest in more than three years and clocking their fourth straight weekly gain.
Among other stocks, Sainsbury's fell 5.3% after Britain's second-largest supermarket group reported a fall in general merchandise and clothing sales for the Christmas quarter.
IAG fell 2.7% after the airline group named the finance chief of its British Airways unit, Jose Antonio Barrionuevo, as the group's new CFO starting in June.
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Vijay Kishore and Andrew Heavens)
A merger is a business combination where two companies join to form a single entity, often to enhance market share, reduce competition, or achieve operational efficiencies.
Energy stocks are shares in companies involved in the production and distribution of energy, including oil, gas, and renewable energy sources, often influenced by global energy prices.
Investor sentiment refers to the overall attitude of investors toward a particular market or asset, which can influence buying and selling decisions in financial markets.
A stress test in banking evaluates how financial institutions can withstand economic shocks by simulating adverse conditions to assess their resilience and capital adequacy.
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