The FTSE 100 Live index opened higher on January 23, 2026, as surging gold prices and stronger than expected UK retail sales lifted investor sentiment. With gold nearing the historic $5,000 per ounce mark, mining stocks powered gains while global markets reacted positively to easing trade tensions and resilient economic data.
FTSE 100 Live Performance at the Open
The FTSE 100 Live index gained momentum shortly after the opening bell, rising around 0.2% to trade near 10,170 points. Early trading saw the benchmark add roughly 12 points, before stabilising around the 10,159 level as investors assessed sector-specific movements.
Compared with major European peers, the London market showed relative strength, supported by commodity-linked stocks and improving domestic data. While some defensive sectors lagged, the broader tone remained cautiously optimistic.
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FTSE 100 Live Boosted by Gold Price Surge
A major driver behind the FTSE 100 Live gains was the dramatic rise in gold prices. Spot gold climbed to around $4,967 per ounce during Asian trading, putting the psychological $5,000 milestone firmly within reach.
Gold has surged from approximately $4,576 just a week earlier, reflecting renewed demand for safe-haven assets amid shifting global policy expectations. Despite calmer signals from the US on trade tariffs, investors continue to hedge against geopolitical and inflationary risks.
Mining stocks were the biggest beneficiaries. Endeavour Mining jumped around 1.7%, while other precious-metal producers also posted solid gains.
To explore long term gold trends, see this Gold Price Surge in 2025 Pushes Markets to New Records. and from the World Gold Council.
FTSE 100 Live and UK Retail Sales Surprise
Beyond commodities, upbeat economic data also supported the FTSE 100 Live index. UK retail sales volumes rose by 0.4% in December, reversing a 0.1% decline recorded in November and beating market expectations.
Online retailers led the rebound, while jewellery sales surged as consumers capitalised on strong demand for gold and silver. Supermarkets also recorded modest gains, contributing to the overall improvement.
For the full year 2025, UK retail sales increased by 1.3%, although volumes remain about 1.5% below pre-pandemic levels. The final quarter of the year still showed some softness, with a 0.3% decline highlighting ongoing pressure on household budgets.
FTSE 100 Live: Consumer Confidence and Currency Moves
Consumer sentiment showed tentative improvement. The GfK consumer confidence index rose to minus 16, marking a one-point gain. Personal finance expectations improved to plus 6, though views on the wider economy slipped to minus 31, underscoring lingering uncertainty.
Meanwhile, the pound remained broadly stable, trading near $1.35 against the US dollar. UK government bond yields showed little movement, suggesting investors remain comfortable with current interest-rate expectations.
This currency stability provided mild support to exporters within the FTSE 100 Live universe. Explore Office for National Statistics for further information.
FTSE 100 Live Stock Movers to Watch
Several individual stocks stood out in FTSE 100 Live trading:
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Haleon and Experian both rose around 1%, rebounding from earlier declines.
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SSP Group surged 4.1% after reporting resilient sales in the Asia-Pacific region, marking its strongest daily gain in over a month.
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Babcock International slipped 2.2% despite posting a solid third-quarter update. The defence group highlighted a £4 billion contract win in Indonesia and reaffirmed plans for an £200 million share buyback.
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C&C Group plunged 18% to levels not seen since 2009, warning that weak consumer sentiment is likely to persist into 2026.
FTSE 100 Live in a Global Market Context
Globally, equity markets leaned positive. Asian indices advanced, with Tokyo’s Nikkei up 0.3% and South Korea’s Kospi rising 0.8%. US markets also closed higher, as the Dow Jones and S&P 500 gained around 0.6%, while the Nasdaq added 0.9%.
These moves followed signals from Washington suggesting a softer stance on future tariff measures, helping ease fears of renewed trade disruptions.
The improved global tone filtered into the FTSE 100 Live, even as some sectors particularly energy and defence showed mixed performance.
FTSE 100 Live Outlook: What Comes Next?
Looking ahead, the FTSE 100 Live index appears set for a relatively flat close after a strong start. Early gains from mining and consumer stocks were partially offset by weakness in select industrial names.
Gold’s rally continues to dominate investor attention. A confirmed move above $5,000 could further reshape sector leadership within the UK market, particularly among miners and commodity exporters.
At the same time, retail sales data offers cautious optimism for the UK economy, even as longer-term growth remains subdued.
FTSE 100 Live Summary: A Balanced but Positive Session
In summary, the FTSE 100 Live session reflected a mix of resilience and restraint. Strong gold prices, improving retail figures, and steady currency conditions supported the index, while consumer-focused firms and select industrials faced ongoing challenges.
As markets digest fresh economic data and global policy signals, investors will remain focused on inflation trends, central-bank guidance, and whether gold’s remarkable rally has further room to run.
For real-time updates and analysis, follow Federal Reserve throughout the trading day.
