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FTSE 100 enjoys best day in almost two years

Chris Beauchamp IG

Today saw the FTSE 100 soar, in its best one-day move since February 2024, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

FTSE 100 rampages to a new record high

Yesterday it was the Dow Jones and Dax at record highs, and today the FTSE 100 has joined the party, barely a week after its last record high. Much of the positivity stems from a bounce for GSK and AstraZeneca, rallying after the former’s news this morning, while Next continues to enjoy a recovery after a tough few months. European inflation data has been a big player too however, giving hope that the ECB will join the easing campaigns being waged by the Fed and BoE, adding to the impression that worries about earnings will be countered by supportive monetary policy.

Geopolitical worries cast aside

If the Western alliance is about to fracture, it doesn’t appear to worry stocks on either side of the Atlantic. Worries about that and high stock valuations have failed to halt the rally, with bubble fears having been left behind in 2025 for the moment. Earnings estimates for the coming season have remained robust, pointing towards optimism among investors, while a new record for stock market breadth shows that the rally remains broad-based.

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Chris Beauchamp

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EUR/USD meets some support near 1.1670

EUR/USD further extends its bearish leg on Wednesday, coming under extra pressure and breaching below the 1.1700 level to flirt with four-week troughs in a context of marginal gains in the US Dollar ahead of the key US NFP on Friday.

GBP/USD deflates to daily lows near 1.3470

GBP/USD stays under pressure on Wednesday, dipping to fresh lows around 1.3470 and extending the pullback that began the previous session. Cable remains on the defensive, with the US Dollar nudging slightly higher in the wake of key US December data.

Gold remains offered near $4,450

Gold remains on the back foot on Wednesday, hovering around $4,450 per troy ounce after bringing a three-day rally to an end. The metal’s advance seems to have run out of steam near the $4,500 area, with a firmer US Dollar after key US data weighing on prices. Still, the downside looks limited for now, thanks to falling US Treasury yields across the curve.

XRP faces selling pressure as key on-chain metric resets and ETF inflows weaken

Ripple (XRP) is trading downward but holding support at $2.22 at the time of writing on Wednesday, as fear spreads across the cryptocurrency market, reversing gains made from the start of the year.

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Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP battles selling pressure as profit-taking, ETF inflows shape outlook

Ripple (XRP) is trading downward but holding support at $2.22 at the time of writing on Wednesday, as fear spreads across the cryptocurrency market, reversing gains made from the start of the year.

FTSE 100 rampages to a new record high

Geopolitical worries cast aside

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