FTSE 100 Index Edges Higher as SSE Surges, BAE Systems Maintains Outlook

London’s FTSE 100 edged up around 0.1% on Wednesday to 9,909.20, extending its recent gains and moving closer to the key 10,000 mark.

SSE is the session’s standout performer so far, with shares surging over 10% after the utility group announced a £33 billion five-year investment plan, a near trebling of spending through to 2030.

The company revealed that about 80% of the funds, or £27 billion, would go toward regulated UK electricity networks, with the remaining £6 billion focused on renewables and system flexibility.

SSE also unveiled plans to raise around £2 billion through a share placing with institutional investors. The company reported a 28% fall in half-year pre-tax profit to £521.5 million, which was consistent with the company's expectations.

Meanwhile, BAE Systems added about 0.6% after confirming it had traded in line with its upgraded July guidance, securing £27 billion of orders so far this year. The defense group said it expected further agreements before year-end and maintained its full-year 2025 guidance.

Elsewhere, Burberry climbed 4%, Games Workshop rose 3.9%, and Fresnillo gained 1.8%, contributing to the index’s modest rise. Among the biggest fallers, EasyJet dropped 2.3%, while Auto Trader and Berkeley Group both slipped 1.9%.

The EasyJet share price decline could be attributed to news that Jet2 has launched a new base at London Gatwick Airport, providing competition for the low-cost airline. Jet2 will begin scheduled flying from Gatwick for the first time from late March 2026.