The FTSE 100 has slipped around 0.6% on Wednesday, easing back after Tuesday’s record-setting advance.
The pullback contrasted with mixed trading across Europe, where the DAX is up 0.4%, the CAC 40 has dipped 0.3% and the Stoxx 600 is unchanged.
Vodafone is among the index’s strongest performers, rising 2.3% after an upgrade from Berenberg. The broker lifted its rating for the stock to Buy and set a price target of 119p, saying it now sees greater potential for the company to deliver in its key markets and highlighted what it views as considerable longer-term value opportunities.
Mondi and SSE also advanced, gaining 1.4% and 1.3% respectively.
Miners are under pressure, with Antofagasta falling 3.4% and Fresnillo down 3.3%. BP also weakened amid a slide in oil prices so far in the session. The oil giant has dropped 2.7%, contributing to the index’s broader decline.
Outside the FTSE 100, Topps Tiles rose 3.7% in early trading after delivering another positive quarterly update.
The retailer reported its fifth consecutive quarter of like-for-like growth in its main brand. For the 13 weeks to December 27, 2025, group revenue excluding CTD increased 3.7% year on year, outperforming a subdued home improvement market that saw declines through October and November.
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