London close: FTSE 100 notches third straight record on trade hopes
By Benjamin Chiou
Date: Wednesday 23 Jul 2025
(Sharecast News) - UK stocks finished at another record high on Wednesday on the back of hopes that a trade deal between the US and Japan may pave the way for similar agreements, easing concerns about tariff uncertainty that have weighed heavily on sentiment over recent months.
"A trade deal between the US and Japan has brought some good vibes to markets and helped the FTSE 100 stake out some ground above the 9,000 level. The longer term effect of tariffs remains to be seen but for the moment, markets seem happy to cheer the home runs and ignore the misses," said Laith Khalaf, head of investment analysis at AJ Bell.
London's FTSE 100 rose for the fifth straight day, finishing 0.4% higher at 9,061.49. The was the third record close for the index in as many days, extending its gain so far in July to 3.4%.
Stock markets across the globe were putting in decent gains on Wednesday after Donald Trump announced that he had agreed a "massive" trade deal with Tokyo that will see Japanese imports into the US slapped with a 15% tariff - not as steep as the 25% rate he threatened earlier this month. Trump also set a 19% tariff on imports from the Philippines.
The president also claimed that his administration was meeting with European officials in an effort to come to an agreement with the European Union.
The developments come as EU members rally to hit back against 30% US tariffs with retaliatory measures, with reports suggesting that the bloc may use a so-called anti-coercion instrument, which includes placing restrictions on US firms involved in EU public procurement, as well as enforcing limitations on IP rights.
"Once more the stern rhetoric around tariffs has been shown to be just words. Instead, the president gets another chance to strut around as the world's greatest dealmaker, even if it remains highly unlikely that Japan is about to discover a love for giant American cars. Now we just have to wait and see whether the EU and the US can strike a deal before 1 August," said Chris Beauchamp, chief market analyst at IG.
Informa and AstraZeneca provide a boost
Topping the risers on the FTSE 100 was publishing and exhibitions group Informa which said that strong forward visibility had led it to upgrade FY guidance. Informa said it delivered reported revenues had grown by more than 20%, while operating margins increased from 27.5% to 28.4%.
AstraZeneca was extending gains made the previous day on the back of its announced $50bn investment plan in the US, which it said will support its ambition to reach $80bn in revenue by 2030.
In contrast, a rebound in risk appetite - owing to a trade deal agreed between the US and major trading partner Japan - lifted global markets and dented share prices in the defensive utilities sectors, with Centrica, SSE, National Grid, Severn Trent and United Utilities among the day's worst performers.
Pub landlord JD Wetherspoon rose after like-for-like sales increased by 5.1% year-on-year in the 12 weeks ended 20 July, as sales volumes recently overtook pre-pandemic levels. Year-to-date like-for-like sales also increased by 5.1%.
Meanwhile, shares in Alpha Group surged after the financial services business agreed to a £1.8bn takeover deal with US outfit Corpay. The acquisition, priced at 4,250p per Alpha share, represented a 55% premium to the company's undisturbed share price on 1 May and a 71% premium to the one-month volume-weighted average price prior to that date.
Market Movers
FTSE 100 (UKX) 9,061.49 0.42%
FTSE 250 (MCX) 22,007.75 0.34%
techMARK (TASX) 5,198.57 0.78%
FTSE 100 - Risers
Informa (INF) 869.60p 5.28%
JD Sports Fashion (JD.) 89.78p 4.64%
Smurfit Westrock (DI) (SWR) 3,504.00p 3.76%
AstraZeneca (AZN) 10,674.00p 3.11%
Ashtead Group (AHT) 4,857.00p 2.58%
Associated British Foods (ABF) 2,252.00p 1.99%
Smith & Nephew (SN.) 1,158.50p 1.85%
GSK (GSK) 1,371.50p 1.78%
International Consolidated Airlines Group SA (CDI) (IAG) 377.00p 1.73%
Mondi (MNDI) 1,167.00p 1.70%
FTSE 100 - Fallers
SSE (SSE) 1,912.00p -2.94%
Centrica (CNA) 159.45p -2.83%
Severn Trent (SVT) 2,717.00p -2.37%
United Utilities Group (UU.) 1,143.00p -2.06%
National Grid (NG.) 1,062.50p -2.03%
London Stock Exchange Group (LSEG) 10,375.00p -1.66%
SEGRO (SGRO) 658.40p -1.47%
Airtel Africa (AAF) 183.10p -1.45%
Coca-Cola HBC AG (CDI) (CCH) 3,978.00p -1.39%
Unite Group (UTG) 795.00p -1.30%
FTSE 250 - Risers
Alpha Group International (ALPH) 4,260.00p 28.51%
Aston Martin Lagonda Global Holdings (AML) 81.00p 8.14%
Hochschild Mining (HOC) 289.60p 7.66%
JPMorgan Japanese Inv Trust (JFJ) 650.00p 4.17%
Ocado Group (OCDO) 341.10p 3.93%
Baillie Gifford Japan Trust (BGFD) 838.00p 3.58%
PPHE Hotel Group Ltd (PPH) 1,626.00p 3.17%
Ocean Wilsons Holdings Ltd. (OCN) 1,500.00p 3.09%
Indivior (INDV) 1,219.00p 3.04%
Carnival (CCL) 2,066.00p 2.84%
FTSE 250 - Fallers
Breedon Group (BREE) 358.80p -7.53%
Supermarket Income Reit (SUPR) 79.30p -3.41%
JPMorgan Indian Investment Trust (JII) 1,058.00p -3.11%
Marshalls (MSLH) 260.00p -2.62%
Morgan Sindall Group (MGNS) 4,540.00p -2.58%
Kier Group (KIE) 195.00p -2.40%
B&M European Value Retail S.A. (DI) (BME) 235.90p -2.03%
Gamma Communications (GAMA) 1,068.00p -2.02%
Drax Group (DRX) 684.50p -2.00%
Moonpig Group (MOON) 211.50p -1.86%
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