London's premier stock index, the FTSE 100, is poised to finish a remarkable year within a whisker of a major psychological milestone. On Wednesday, 31 December 2025, the blue-chip benchmark traded tantalisingly close to the 10,000-point level, having notched up an impressive 41 record closes throughout the year.
Final Day Drama for Blue-Chip Stocks
In early trading on the year's final session, the index moved into positive territory before dipping slightly to hover around 9,921 points. The session saw a mixed performance from its constituent companies. Diageo, the beleaguered drinks giant behind Guinness, initially led the gains with a rise of nearly one per cent. This offered a glimmer of hope for a firm that has endured a torrid 2025, seeing its share price plummet by 36 per cent. The November appointment of former Tesco chief Dave Lewis as its new CEO had been viewed as a potential turning point.
By 11 am, however, Vodafone had taken the top spot on the leaderboard. Pharmaceutical titan AstraZeneca also climbed, adding 0.4 per cent. Notably, while AstraZeneca's market valuation has ballooned to nearly £214 billion this year, its primary listing is no longer in London following an upgrade across the Atlantic.
Mining Sector Weighs on Year-End Rally
The main drag on the index's final day charge came from the mining sector. This is despite the fact that mining stocks have been the standout performers of 2025. The FTSE 350 Mining Index skyrocketed by an astonishing over 222 per cent across the year, fuelled by soaring precious metal prices amid global geopolitical unrest.
Fresnillo, a silver and gold miner focused on Mexico, epitomised this boom. Its shares rocketed by 412 per cent in 2025, opening the year at 649.50p and closing at 3,300p. Ironically, it was also the biggest faller on Wednesday morning, down 2.5 per cent, illustrating the profit-taking and volatility capping the FTSE's ascent.
From 'Liberation Day' Dip to Historic Recovery
The index's journey to the cusp of 10,000 marks a dramatic recovery from its lows earlier in the year. In April 2025, it sank to 7,679.48 points after former US President Donald Trump launched a 'Liberation Day' tariff offensive, sending international markets into a tailspin.
"After that 'Liberation Day' dip, which now feels so long ago, European markets have delivered a strong annual performance," remarked Danni Hewson, Head of Financial Analysis at AJ Bell. She noted the index was now "tantalisingly close" to its next milestone, a feat that seemed "inconceivable" at the start of the year. The subsequent rally, particularly after tariffs were lifted, included a 16-day winning streak. Overall, the FTSE 100 has surged by over 20 per cent since January.
As the closing bell approached on 2025, investors were left to ponder whether London's flagship index could secure a fairytale finish and finally breach the 10,000-point barrier.
