Business
FTSE 100 edges lower in quiet end of year trade
Stock prices in London closed mixed on Monday, after a day of quiet trading at the start of another holiday-shortened week, as FTSE 250 firm International Personal Finance agreed to a £543 million takeover.
The FTSE 100 index closed down 4.15 points at 9,866.53. The FTSE 250 index ended up 93.01 points, 0.4%, at 22,407.51, and the AIM All-Share closed down 0.09 points at 760.14.
In European equities on Monday, the CAC 40 in Paris closed up 0.1%, while the DAX 40 in Frankfurt ended 0.1% higher.
The pound was quoted at 1.3491 dollars at the time of the London equities close on Monday, down from 1.3510 dollars at the time of the early London equities close on Wednesday. The euro was lower at 1.1757 dollars from 1.1790 dollars. Against the yen, the dollar was trading at 156.04 yen, up from 155.92 yen.
Late on Friday, around the time of the closing bell on the New York Stock Exchange, the pound traded at 1.3504 dollars, the euro at 1.1780 dollars, and the dollar bought 156.50 yen.
London’s financial markets opened on Monday for the first time since last Wednesday, after closing for Christmas Day and Boxing Day.
The markets will close early this Wednesday, before the New Year’s Day holiday on Thursday. The market reopens on Friday for a full trading day.
This week’s global economic calendar has minutes from the December Federal Open Market Committee meeting on Tuesday, before a swathe of manufacturing PMI readings on Friday.
Stocks in New York were lower. The Dow Jones Industrial Average was down 0.5%, the S&P 500 index retreated 0.5%, and the Nasdaq Composite fell 0.7%.
The yield on the US 10-year Treasury was quoted at 4.12%, narrowing from 4.16% on Wednesday. The yield on the US 30-year Treasury was quoted at 4.80%, slimmed from 4.82%.
Pending home sales in the US grew by more than expected in November.
According to the National Association of Realtors, pending home sales rose 3.3% on-month in November. This figure surpassed the FXStreet-cited consensus, which had projected a rise of 1.0% during the month.
On a year-over-year basis, pending home sales increased by 2.6%.
According to NAR chief economist Lawrence Yun, “homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023”.
Brent oil was down at 61.48 dollars a barrel at the time of the London equities close on Monday from 62.58 dollars at the time of the early London equities close on Wednesday. However, it was up from 60.32 dollars at the time of the New York equities close on Friday.
Gold bought 4,336.60 dollars an ounce at Monday’s close, down from 4,492.58 dollars on Wednesday and from 4,528.06 dollars on Friday. Gold had hit a record high above 4,549 dollars an ounce on Friday.
In London, International Personal Finance led the way on the FTSE 250 index as its shares jumped 5.9%. The firm said it has agreed a G£543 million all-cash takeover by BasePoint Capital, with the acquisition expected to complete in the third quarter of 2026.
Under the terms of the offer, IPF shareholders will receive 235 pence in cash for each share, valuing the provider of credit products and insurance services at around £543 million. IPF shares closed at 220.00p on Wednesday.
The offer represents a premium of around 31% to IPF’s closing share price of 179.2 pence on July 29, the last trading day before the company entered an offer period.
The agreed offer follows a series of approaches from BasePoint earlier this year. In September, IPF said it had received an improved indicative proposal of 235p per share, raised from an initial 220p approach made in July, and indicated at the time that its board would be minded to recommend the offer if a firm bid were made.
IPF’s board has unanimously recommended the offer, and completion of the acquisition is subject to shareholder approval.
Chairman Stuart Sinclair said: “Whilst the board continues to believe in the strategy and long-term prospects of IPF on a standalone basis, we recognise that the acquisition allows IPF shareholders to monetise their entire investment for cash at a fair price.
“We believe that the business will benefit from BasePoint’s ownership and its commitment to fulfil IPF’s purpose of building a better world through financial inclusion.”
Elsewhere, Everyman Media shares closed flat after chief executive Alex Scrimgeour stepped down with immediate effect, as analysts said “time had run out” for the boss after a profit warning and the resignation of the finance director earlier this month.
Mr Scrimgeour’s departure follows finance director Will Worsdell’s resignation two weeks ago. He is leaving at the end of March.
The London-based premium cinema chain has appointed Farah Golant, currently non-executive director, as the interim chief executive.
“Farah has extensive experience across the global creative, entertainment and media industries, and a track record of accelerating growth and cultivating high performance, results-oriented organisations,” said Philip Jacobson, the company’s non-executive chairman.
“Everyman has now lost both its chief executive and its finance director over the past fortnight,” said Dan Coatsworth, head of markets at AJ Bell. “That’s unfortunate timing and means the pressure is on to find a new leadership team fast.”
“The share price fell by 76% during his tenure and time had run out,” he added.
Mr Scrimgeour has stepped down after Everyman’s profit warning earlier this month, where it said it was “operating in a challenging economic environment” with recent UK box office performance “weaker than anticipated”.
“It’s fair to say that 2025 wasn’t a golden year for new film releases, making matters worse for Everyman. Its recent profit warning was blamed on a weak fourth quarter film state, and the release schedule for the next few months doesn’t instil much optimism,” said Mr Coatsworth.
The biggest risers on the FTSE 100 were Fresnillo, up 82.0 pence at 3,282.0p, Glencore, up 8.3p at 402.6p, Convatec, up 5.0p at 243.0p, Anglo American, up 57.0p at 3,069.0p, and Entain, up 14.0p at 764.6p.
The biggest fallers on the FTSE 100 were Babcock International, down 33.0p at 1,227.0p, Hiscox, down 21.0p at 1,407.0p, British American Tobacco, down 60.0p at 4,155.0p, BT Group, down 2.5p at 182.3p, and Halma, down 43.8p at 3,524.2p.
On Friday’s economic calendar are minutes from the latest meeting of the US Federal Open Market Committee as well as house price index figures for the US.
There are no events scheduled on Tuesday’s local corporate calendar.
– Contributed by Alliance News
Business
World’s Fastest Rail Network Can Take You From Delhi To Rishikesh In 45 Minutes Only – Discover Where This Marvel Is
World’s Fastest Train: Social media is buzzing with stories of the world’s fastest rail networks, but one line stands out for its sheer speed and efficiency. Recently inaugurated, China’s Xi’an–Yan’an high-speed railway is changing rail travel and showing how advanced infrastructure can be.
The new line connects northern Shaanxi province with lightning-fast convenience, reducing travel times and transforming daily commutes. A viral video shows the sleek trains gliding along the tracks, capturing the excitement of locals witnessing the future of rail transport.
In practical terms, imagine a journey in India: this high-speed line could cover the distance between Delhi and Rishikesh in only 45 minutes.
According to AFP, the Xi’an–Yan’an route is part of the world’s largest high-speed rail network, stretching to nearly one-fifth of the earth’s circumference. The C9309 train on this line runs at an astonishing 350 kilometres per hour (217 miles per hour), surpassing Japan’s Shinkansen, whose maximum speed is 320 kilometres per hour (200 miles per hour).
Operations officially began on December 26, and the launch day saw locals lining up to experience the speed for themselves. For many passengers, the biggest benefit is time saved.
Journeys that once felt exhausting are now fast, smooth and far more accessible, giving travellers a glimpse of what modern and efficient rail travel can achieve.
With this network, China not only demonstrates its engineering prowess but also sets a new global benchmark in speed, efficiency and passenger convenience.
New Delhi: The government of India on Monday announced the sale (re-issue) of “6.48 per cent Government Security 2035” for a notified amount of Rs 32,000 crore through price-based auction using the multiple price method. The auction will be conducted by the Reserve Bank of India’s Mumbai Office on January 2.
The Government will have the option to retain additional subscription up to Rs 2,000 crore against the security, according to a Finance Ministry statement. Up to 5 per cent of the notified amount of the sale of the security will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities, the statement said.
Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber system) on January 2, 2026. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m., and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m., the statement explained.
The result of the auction will be announced on January 2, and payment by successful bidders will be on January 5. The Security will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central government Securities’ issued by the Reserve Bank of India vide circular dated July 24, 2018, as amended from time to time.
Governments sell bonds to borrow money from investors, essentially taking loans to fund public spending like infrastructure, social programs, and to cover budget deficits, acting as a low-risk way for citizens or institutions to lend to the government in exchange for regular interest and principal repayment, thus financing national needs without immediately raising taxes.
These bonds are considered low-risk investments since they are backed by the government and are considered safe because of their relatively low risk. Government bonds typically pay low interest rates.
Mary Barra, CEO of General Motors, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, on July 8, 2025.
David A. Grogan | CNBC
DETROIT — General Motors is on pace to be the top U.S.-traded automaker stock of 2025, as shares of GM are having their best year since the Detroit company’s reemergence from bankruptcy in 2009.
GM stock is up over 55% to a record of more than $80 per share, as of Friday’s close, topping the company’s previous annual increase of 48.3% last year. That includes a nearly 13% rise so far in December, adding to five consecutive months of share gains, according to FactSet.
Several factors have been driving the share increase. But GM CEO Mary Barra and other executives have contended for years that the automaker’s stock has been significantly undervalued given its consistent earnings performance.
“Great vehicles, innovative technology, a rewarding customer experience, along with strong financial results, will continue to set GM apart in an increasingly competitive landscape,” Barra said during the company’s last quarterly earnings call in October.
Amid the stock’s run-up, Barra has significantly cut her position in the company. She has exercised options or sold roughly 1.8 million shares this year, valued at more than $73 million, according to public filings confirmed by GM.
As of the last public filing in September, Barra still owned more than 433,500 shares valued at over $35 million, with much of her annual awards granted in options and stock.
GM’s stock performance compares with a 17% yearly increase for Tesla as of Friday’s close, a 34% jump for Ford Motor and a 15% loss for Chrysler parent Stellantis. Other U.S.-traded automakers such as Honda Motor and Toyota Motor have had smaller annual gains.
Auto stocks
GM ‘s most recent quarterly earnings were a major catalyst for Wall Street analyst bullishness that led to reratings and price target increases after the third quarter.
The automaker’s quarterly adjusted earnings per share have topped Wall Street estimates every quarter except the second quarter of 2022 over the past five years, according to average expectations of analysts compiled by FactSet.
Wall Street analysts overall have cited GM’s cash generation, earnings resilience and track record in delivering shareholder returns, including stock buybacks, as reasons for their optimism. The automaker also is expected to greatly benefit from regulation changes under the Trump administration, despite ongoing tariffs.
UBS recently increased its 12-month price target on GM stock by 14% to $97 per share, while naming the company its top autos pick heading into 2026. Morgan Stanley earlier this month also upgraded GM to overweight, with a $90 per share price target.
“In our view, General Motors leads the D3 in the North America and Global market with steady unit sales growth, [average transaction price] growth, disciplined incentive spend, and inventory management. This has resulted in better [earnings before interest and taxes] margin and return metrics than peers,” Morgan Stanley analyst Andrew Percoco said in a Dec. 7 investor note.
GM stock has cumulatively been in the black on a weekly basis since June. The largest weekly gain of 19.3% occurred when the automaker reported its third-quarter earnings on Oct. 21. Those results beat Wall Street’s expectations and the company raised its annual guidance, adding that next year’s earnings are expected to be better than 2025’s.
GM stock’s has also seen a boost from some external factors. The Trump administration has loosened U.S. fuel economy and emissions standards, removed related penalties that were imposed under the Biden administration, and renegotiated its trade deal with South Korea, a major manufacturing hub for GM. Meanwhile, the industry has been seeing a slowdown in less profitable EV sales.
“GM is effectively a regional (NA) [automaker] and we believe they are well positioned to benefit from the relaxed US regulatory environment (emissions and fuel economy),” UBS analyst Joseph Spak said in a Dec. 15 investor note raising the per share price.
GM CFO Paul Jacobson earlier this month said the company will continue stock buybacks.
“As long as the stock remains as undervalued as it is, the priority is to buy back shares. And I think you’ll continue to see that from us going forward,” he said during a UBS investor conference.
GM is rated overweight with an $80.86 target price, according to analyst averages compiled by FactSet.
— CNBC’s Michael Bloom contributed to this report.
Correction: Lucid shares are down for the year. An earlier version misstated their move.
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