Published: Friday, January 9, 2026 · 9:00 AM | Updated: Friday, January 9, 2026 · 9:00 AM
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The FTSE 100 (^FTSE) rose amid talks of a mining mega-merger, while European stocks opened mixed on Friday, as the market rounds out the first full trading week of the year with major indices all registering five-day gains.
London’s premier index was lifted by news of a potential merger of mining majors, Rio Tinto (RIO.L) and Glencore (GLEN.L).
Glencore, which is likely to be acquired in the event of a deal, saw its stock jump more than 7.5% shortly after the opening bell. Rio Tinto, meanwhile lost 2.5%.
Miners Anglo American (AAL.L) and Antofagasta (ANTO.L) gained on the news of the potential combination, alongside oil giants BP (BP.L) and Shell (SHEL.L).
While there are currently scant details, the merger could see a new heavyweight in industrial metal extraction, including the likes of iron ore and transition metals such as copper, cobalt and lithium.
Supermarkets took a knock, meanwhile, following a Christmas update from Sainsbury’s (SBRY.L). The grocer said its core food business had performed well at Christmas but non-food brands like Argos had taken a hit.
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The FTSE 100 (^FTSE) rose 0.3% in morning trade on Friday, pulled in different directions by commodities and supermarkets.
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The DAX (^GDAXI) in Germany traded sideways following trade balance and industrial production data that came in lower than expected.
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The CAC 40 (^FCHI) in Paris bounded 0.6% into the green.
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The pan-European STOXX 600 (^STOXX) rose around 0.4%.
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Sterling traded almost 0.2% lower against the dollar (GBPUSD=X), trending towards the $1.34 mark.
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Stocks to watch: TSMC
Pedro Goncalves writes:
Shares in Taiwan Semiconductor Manufacturing Co (TSMC) rose overnight after the chipmaker reported quarterly revenue that exceeded analysts’ expectations.
The world’s largest contract chipmaker said fourth quarter revenue reached T$1,046.08bn, equivalent to $33.05bn (£24.5bn), according to Reuters calculations based on the company’s monthly disclosures.
The result beat market forecasts and marked an increase of 20.45% from a year earlier, driven by surging demand linked to AI applications.
An LSEG SmartEstimate, compiled from 20 analysts, had forecast fourth quarter revenue of T$1,035.913bn, or $32.73bn.
TSMC is a key supplier to some of the world’s largest technology groups, including Nvidia (NVDA) and Apple (AAPL).
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Supermarkets trade lower
Sainsbury’s was down as much as 4.1% shortly after the opening bell in London.
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Sainsbury’s stock dips as it reveals pressure on non-food arm and Argos
Sainsbury’s has revealed a jump in festive grocery sales as customers traded up to its premium own-brand range but revealed ongoing pressure in its non-food arm and Argos business.
The UK’s second largest supermarket chain behind Tesco posted a 5.1% rise in total grocery sales over the six weeks to January 3, helped by strong demand for its Taste the Difference products.
But Argos sales fell 2.2% in the period and Sainsbury’s non-food and clothing sales were 1% lower.
In its third quarter overall, Sainsbury’s said like-for-like sales excluding fuel lifted 3.4% in the 16 weeks to January 3, which marked a slowdown on the 4.3% notched up in the previous three months.
Despite tougher general merchandise trading, the group said it remained on track with recently upgraded retail earnings guidance of more than £1bn for the full year.
Read more on Yahoo Finance UK
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Here’s the US stock futures chart
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US futures trade flat as Wall Street looks to jobs report, Supreme Court tariff decision
US stock futures traded sideways early Friday morning as investors braced for a pivotal employment report and awaited a possible Supreme Court decision that could reshape the outlook for President Trump’s tariffs.
Futures tied to the Dow Jones Industrial Average (YM=F), S&P 500 (ES=F) and Nasdaq 100 (NQ=F) all hovered around the baseline.
During Thursday’s regular session, market leadership shifted away from technology stocks. The Nasdaq Composite (^IXIC) was pressured by declines in names such as Nvidia (NVDA), Palantir (PLTR), and Broadcom (AVGO). Meanwhile, the Dow Jones Industrial Average (^DJI) jumped back within striking distance of its record high.
Markets on Friday are focused on two key events. The first is a Supreme Court opinion day that could address the legality of tariffs imposed by Trump. The decision carries huge implications for the administration’s economic strategy and could restructure global trade should the high court find the levies unlawful.
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Good morning!
Hello. It’s Lucy Harley-McKeown — here for another day of markets and economics updates.
On the economic calendar today we have European retail sales data and jobs data in the US.
At 9.30am the UK’s Office for National Statistics releases property transaction data.
Meanwhile, there are no major company reports on the slate.
Let’s get to it.
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