{"id":131319,"title":"The London stock market closed the week at a new record high.","publisher":"Share Talk","author":"sharetalk","published":"2026-01-09T17:29:38+00:00","modified":"2026-01-09T17:37:26+00:00","canonical_url":"https://www.share-talk.com/the-london-stock-market-closed-the-week-at-a-new-record-high/","markdown_url":"https://www.share-talk.com/the-london-stock-market-closed-the-week-at-a-new-record-high.md","json_url":"https://www.share-talk.com/the-london-stock-market-closed-the-week-at-a-new-record-high.json","category":"Blogs","categories":["Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["AstraZeneca","BP","Chevron","Donald Trump","ExxonMobil","Fresnillo","FTSE 100","FTSE 250","GSK","Iran","Liberation Day","London","Next","oil prices","Shell","UK stock market"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/01/FT100-FRIDAY-9TH-JAN-2026-USE.webp?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"The FTSE 100 ended the week at a new record high, buoyed by reports of a potential mega-merger between two of the world’s largest mining groups.\n\nLondon’s benchmark index advanced 0.8% to close at 10,124.60 points, with gains led by **Glencore**. Shares in the Anglo-Swiss miner surged 9% after the company confirmed it was in discussions with fellow FTSE constituent **Rio Tinto** regarding a possible combination that would create a group valued at approximately £190bn.\n\nElsewhere in the sector, copper producer **Antofagasta** was also among the top performers, with its shares rising by more than 4% after being upgraded to “buy” by **Goldman Sachs**.\n\n**Precious metals** edged higher after data pointed to a slowdown in the US labour market last month.\n\n**Gold** rose by approximately 1.4% to $4,511 per troy ounce, lifting its gains over the past week to around 4%.\n\n**Silver** recorded a sharper advance, jumping 5% to $79.79 an ounce and extending its weekly increase to about 9%. The move follows weaker US payrolls figures, which have led economists and investors to anticipate that the **Federal Reserve** will keep interest rates unchanged at its meeting later this month.\n\nShares in major oil companies rose as unrest in **Iran** intensified, raising concerns over potential supply risks.\n\nIn late-morning trading in New York, **Chevron** advanced by 1.2%, while **ExxonMobil** gained approximately 0.5%. UK-listed energy groups also benefited, with **BP** shares rising by more than 2% and **Shell** climbing around 3% in New York trading.\n\nThe gains followed a rise in oil prices to their highest level since last month, after **Donald Trump** issued warnings to Iran amid reports of escalating protests."}