Jan 9 (Reuters) - London stocks edged higher on Friday, rebounding after two sessions of losses, as Glencore provided a boost amid early talks of a merger with Rio Tinto, a move that could potentially
FTSE 100 Hits All-Time High Following US Jobs Report and Glencore Surge
FTSE 100 Performance Overview
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.
Impact of US Jobs Data
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.
Glencore and Mining Sector Developments
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.
Sector Performance Highlights
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.
Sainsbury's Sales Decline
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 Leadership Changes
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)
