London’s market closed the week with heavy trading across big UK banks, miners and travel names — while takeover and profit-warning headlines sparked sharp moves in several mid- and small-cap shares.
By late morning, the FTSE 100 was higher by around 0.4% near 9,746 after fresh UK economic data reinforced expectations of a Bank of England rate cut next week. [1]
Below is a detailed look at the most active stocks on the UK market today , what’s behind the biggest spikes in activity , and the latest forecasts and broker calls dated 12/12/2025 .
UK market backdrop: GDP dips again, trade deficit widens, rate-cut bets grow
Two major UK releases hit at 7:00am London time and immediately set the tone:
- UK monthly GDP fell 0.1% in October 2025 , corresponding to September’s decline. Services contracted and construction weakened, while production rose. [2]
- The UK’s total trade deficit (goods and services) widened to £6.7bn in the three months to October 2025 , as imports rose while exports fell; the ONS also flagged an HMRC data issue affecting some fuel exports data from March 2024 onwards (to be corrected in later releases). [3]
With growth losing momentum, markets increasingly focused on the Bank of England’s 18 December meeting , with Reuters reporting markets pricing a high probability of a cut. [4]
Adding to the “rates in focus” theme, the Bank of England/Ipsos Inflation Attitudes Survey published today showed:
- median expected inflation over the coming year at 3.5% , and
- a rising share of respondents saying rates should “go down” (best for the economy). [5]
Most active UK stocks today: FTSE 100 volume leaders at the close
Measured by cumulative trading volume in the FTSE 100 , the busiest names were dominated by banks, miners and large liquid consumer/telecom stocks. (Prices on the source page are delayed and shown as “market closed”.) [6]
Top FTSE 100 stocks by trading volume (12 Dec 2025)
- Lloyds (LLOY) – 10,594,199 shares
- Glencore (GLEN) – 3,703,211
- Barclays (BARC) – 3,223,520
- Vodafone (VOD) – 2,966,225
- IAG (IAG) – 2,837,509
- HSBC (HSBA) – 2,454,143
- BP (BP.) – 1,876,636
- Legal & General (LGEN) – 1,739,310
- Centrica (CNA) – 1,648,609
- BT (BT.A) – 1,025,281 [7]
Why this mix? A weaker GDP print plus increasing talk of a near-term rate cut tends to re-price UK financials , while commodity-linked giants (miners and energy) remain go-to liquidity hubs for global flows. [8]
Most traded UK shares by number of trades and by value
“Most active” can also mean how many individual trades are going through, or how much money is changing hands .
Most traded by number of trades (late-morning snapshot)
A late-morning market snapshot showed the highest trade counts were led by:
- Games Workshop (GAW) – 24,680 trades
- Rolls-Royce (RR.) – 6,572
- HSBC (HSBA) – 4.787
- Rio Tinto (RIO) – 4.029
- BP (BP.) – 3,977 [9]
Games Workshop’s appearance here is a reminder that high-priced shares can rack up large numbers of trades (especially via retail platforms) even when total share volume is modest versus banks or telecoms.
Most traded by value (late-morning snapshot)
By value traded , the leaders included:
- Standard Chartered (STAN) – about £62.8m traded (with 685,747 shares)
- HSBC (HSBA) – about £30.4m
- AstraZeneca (AZN) – about £17.4m
- Barclays (BARC) – about £15.0m
- Glencore (GLEN) – about £14.5m [10]
Standard Chartered’s strong showing by value aligned with fresh attention on the bank’s capital returns and trading in large, liquid financials. [11]
The biggest stock-specific drivers and headlines today
Here are the main company news items dated 12/12/2025 that helped explain where attention (and volume) went.
SolGold (SOLG): takeover bid raised to 28p, valuing group at ~£842m
One of the day’s most talked-about UK-listed names was SolGold , after Reuters reported that China’s Jiangxi Copper raised its takeover offer to 28p per share , valuing SolGold at about £842m . SolGold’s board said it was “minded to recommend” if a firm offer is made on those terms. [12]
Notably, Reuters also pointed out the share price fell more than 5% after the update — a move that can happen when an earlier rally is followed by profit-taking, arbitrage positioning, or doubts about deal certainty and timing. [13]
Why it matters for UK market activity: takeover situations often generate outsized turnover because they pull in event-driven funds, merger-arb traders and retail flows in a tight time window.
Card Factory (CARD): profit warning hits shares and spikes attention
Retailer Card Factory was a major mover after issuing a profit warning tied to weak footfall and subdued consumer sentiment heading into the peak festive period.
Reuters reported the company now expects annual adjusted pretax profit of £55m–£60m , versus its earlier guidance implying growth, and the shares dropped around 27% on the day. [14]
The timing is particularly sensitive: the warning landed as new UK data and surveys again highlighted a fragile consumer backdrop. [15]
1Spatial (SPA): board-backed cash offer at 73p values firm at ~£87.1m
AIM-listed 1Spatial surged after agreeing terms of a possible all-cash 73p-per-share offer from VertiGIS (a Battery Ventures portfolio company), valuing it at around £87.1m . [16]
Deal timelines also became part of the story: under takeover rules, VertiGIS has a deadline in early January 2026 to announce a firm intention or walk away. [17]
Harbor Energy (HBR): $170m North Sea acquisition lifts shares
Energy producer Harbor Energy drew strong interest after Reuters reported it agreed to substantially acquire all subsidiaries of Waldorf Energy Partners and Waldorf Production for $170m , with the market reaction described as a share rise of roughly 6% . [18]
For traders, the key phrases were “ materially accretive to free cash flow ” and the strategic value of deepening North Sea exposure — themes that often drive volume quickly in UK energy names. [19]
Capita (CPI): mixed trading update, contract pipeline jumps 41%
Outsourcer Capita was active after Reuters covered a slowdown in sales growth in H2, but also highlighted:
- £250m of annual cost savings achieved,
- contract pipeline up 41% to £16.5bn , and
- an agreement to return its final two legacy Life & Pensions contracts to Royal London in a £52.5m deal (with a multi‑year transition). [20]
Investegate’s “Across The Markets” commentary framed the update as “mixed,” noting public services held up while contact-center revenues fell, but overall sentiment tilted positive in early trade. [21]
Aberdeen (ABDN): adds £1.5bn of closed-end fund assets under management
Asset manager Aberdeen featured in today’s flow of UK corporate news after Reuters reported it will acquire management of nine US closed-end funds with assets totaling £1.5bn , part of a continued US expansion drive. [22]
GSK (GSK): two regulatory threads keep the stock in focus
Healthcare heavyweight GSK had two notable catalysts discussed in Reuters’ “factors to watch”:
- A US FDA action expanding use of Blujepa as a treatment option for gonorrhea, and
- A European regulatory panel supporting broader use of the RSV vaccine Arexvy for adults aged 18+. [23]
Broader indications can change long-run revenue expectations — and that kind of “big picture” implication is exactly what can pull in institutional volume even when headline price moves look modest.
Forecasts and broker views published today: upgrades, downgrades and fresh price targets
Broker notes are a classic source of one-day spikes in activity, especially when they hit widely held FTSE 100 names.
Among the notable London broker ratings published this morning were:
- Jefferies raising InterContinental Hotels (IHG) to “buy” with an 11,400p price target;
- JPMorgan cutting United Utilities and Severn Trent to “neutral” ;
- JPMorgan raising Centrica to “overweight” ;
- UBS cutting Glencore to “neutral” ;
- Barclays raising its BP price target to 590p . [24]
These “target-price forecasts” don’t predict next-day moves, but they reset narratives — and that frequently shows up in intraday turnover as investors reposition.
What investors are watching next: BoE, growth outlooks, and the holiday spending test
A few forward-looking datapoints stood out today because they connect directly to the most actively traded sectors:
- Reuters reported the CBI upgraded its 2026 UK growth forecast to 1.3% (from 1.0%) and lifted its 2025 forecast, while warning deep-seated issues remain. It also outlined a more cautious path for rate cuts than some market pricing implies. [25]
- On the consumer side, a PwC survey covered by Reuters forecast £24.6bn of UK Christmas spending (up 3.5% year-on-year), but essentially flat in volume terms when adjusting for inflation — a tension that matters for retailers after Card Factory’s warning. [26]
- Commodity watchers also kept an eye on oil and metals moves highlighted in Reuters’ day-ahead briefing — relevant for heavy-volume names like BP, Shell, Glencore and Rio Tinto . [27]
Bottom line: banks and miners owned the liquidity, but single-stock news drove the drama
Today’s most active UK shares were split into two clear camps:
- High-liquidity blue chips (Lloyds, Barclays, HSBC, Glencore, Vodafone, IAG) where macro and rates expectations drove steady, heavy turnover. [28]
- Event-driven names (SolGold, 1Spatial, Card Factory, Harbor Energy, Capita) where a takeover, profit warning or deal update quickly became the main reason for exceptional attention and outsized moves. [29]
As always, “most active” lists can change depending on whether you measure share volume , number of trades , or value traded — but on 12 December 2025, the story in London was unmistakable: macro data pushed rate-cut expectations back into the spotlight, and stock-specific headlines did the rest. [30]
References
1. www.lse.co.uk, 2. www.ons.gov.uk, 3. www.ons.gov.uk, 4. www.reuters.com, 5. www.bankofengland.co.uk, 6. www.hl.co.uk, 7. www.hl.co.uk, 8. www.reuters.com, 9. www.lse.co.uk, 10. www.lse.co.uk, 11. www.investegate.co.uk, 12. www.reuters.com, 13. www.reuters.com, 14. www.reuters.com, 15. www.reuters.com, 16. www.lse.co.uk, 17. www.lse.co.uk, 18. www.reuters.com, 19. www.tradingview.com, 20. www.reuters.com, 21. www.investegate.co.uk, 22. www.reuters.com, 23. www.tradingview.com, 24. www.lse.co.uk, 25. www.reuters.com, 26. www.reuters.com, 27. www.tradingview.com, 28. www.hl.co.uk, 29. www.reuters.com, 30. www.lse.co.uk
