UK Stock Market Movers Today (9 December 2025): Most‑Active FTSE 100 Stocks and What’s Driving Them

The UK stock market spent Tuesday 9 December 2025 in a holding pattern, with the FTSE 100 drifting around 9,650 points and ending effectively flat, as traders waited for a key US Federal Reserve decision and next week’s Bank of England meeting. ^[1]

Beneath the calm index level, trading activity was intense in a familiar set of big‑name stocks: banks, energy giants, consumer staples, telecoms and tobacco. According to the London Stock Exchange and live dealing platforms, volume was concentrated in Lloyds, Legal & General, Glencore, Vodafone, Barclays, Tesco, BP, BT, Rolls‑Royce, Magnum Ice Cream and British American Tobacco, among others. ^[2]

This article walks through:

How the broader UK market is trading today
The most active FTSE 100 stocks by volume
The latest news, forecasts and analyst commentary as of 9 December 2025 for the key movers

Note: All prices and volumes are from UK market data on 9 December 2025 and are typically delayed by up to 15 minutes. This is information only, not investment advice.

1. Market snapshot – FTSE 100 steady ahead of the Fed

The FTSE 100 hovered around 9,640–9,660, fractionally lower on the day (around ‑0.03%), while futures on the index traded near 9,670, with technical signals broadly neutral on the daily timeframe. ^[3]
Global markets were mixed: Germany’s DAX edged higher, France’s CAC 40 slipped and the UK’s FTSE 100 “remained nearly flat” as investors waited for the Fed’s December 9–10 meeting, where a third rate cut of 2025 is widely expected. TechStock²

A detailed UK market wrap today notes that Unilever’s ice‑cream spin‑off, strength in bank shares and continued rate‑cut hopes are the main domestic themes keeping the FTSE 100 near record territory despite subdued intraday moves. TechStock²

Strategists still argue that, even after 2025’s rally, UK equities trade at a discount to other developed markets – roughly 12.5x forward earnings for the FTSE 100 vs over 21x for the S&P 500, and a valuation gap of around 30–35% vs MSCI World when you look at price‑to‑earnings and price‑to‑book ratios. TechStock²

That backdrop helps explain why high‑dividend banks, insurers, energy majors and “value” cyclicals dominate today’s most‑active list.

2. Today’s most active FTSE 100 stocks by volume

Hargreaves Lansdown’s “FTSE 100: Top 20 by volume” table for Tuesday’s session shows the following top 10 most‑traded blue chips by cumulative volume: ^[4]

Lloyds Banking Group (LLOY) – 95.28p, ‑0.44%, volume 13.5m
Legal & General Group (LGEN) – 250.10p, +0.20%, volume 11.0m
Glencore (GLEN) – 373.73p, ‑1.37%, volume 4.8m
Vodafone Group (VOD) – 95.02p, +0.91%, volume 4.5m
Barclays (BARC) – 440.00p, +0.69%, volume 3.7m
Tesco (TSCO) – 444.75p, ‑1.18%, volume 3.4m
JD Sports Fashion (JD.) – 78.45p, ‑1.46%, volume 2.4m
BP (BP.) – 447.25p, ‑0.70%, volume 2.2m
BT Group (BT.A) – 179.32p, +1.27%, volume 2.1m
Rolls‑Royce Holdings (RR.) – 1,119.25p, +1.08%, volume 2.1m

Also heavily traded were:

Marks & Spencer (MKS), HSBC (HSBA), IAG, The Magnum Ice Cream Company (MICC), British American Tobacco (BATS), WPP, Haleon (HLN), Shell (SHEL), Centrica (CNA) and Sainsbury’s (SBRY). ^[5]

Beyond the FTSE 100, mid‑caps like Moonpig, Chemring and Ashtead also featured in traders’ diaries thanks to earnings updates and scheduled results today. ^[6]

3. Banks dominate the tape: Lloyds, Barclays and HSBC

3.1 Lloyds Banking Group (LLOY)

Why it’s active: Lloyds is today’s most‑traded FTSE 100 share by volume, continuing a pattern that has run through much of 2025. ^[7]

Key drivers today:

Lloyds recently completed a £1.7bn share buyback, retiring more than 2.2bn shares, a move widely seen as a vote of confidence in its capital strength and earnings visibility. ^[8]
The bank continues to report daily share repurchases under the programme, which mechanically boosts volume and underpins the share price on quieter days. ^[9]
Recent performance has been spectacular: one review of 2025’s winners notes Lloyds shares have gained around 80% year‑to‑date, putting them alongside some of the FTSE’s best performers.

On the valuation and forecast side:

A recent analyst summary on TipRanks still describes Lloyds as an “Outperform” / Buy‑rated bank, with the latest broker target implying modest upside from the mid‑90p area – broadly in the low‑100p region. ^[10]
Commentators repeatedly highlight the combination of double‑digit return on equity, a progressive dividend and ongoing buybacks as the backdrop for further capital returns into 2026, so long as UK credit quality remains stable. TechStock²

In short, Lloyds remains the retail investor favourite in the UK banking sector, with today’s trading largely an extension of the medium‑term trend: heavy volumes, modest intraday drift, and strong year‑to‑date gains.

3.2 Barclays (BARC)

Barclays also traded heavily, finishing around 440p, up roughly 0.7% on solid volume. ^[11]

Recent catalysts include:

Ongoing speculation about a potential acquisition of wealth manager Evelyn Partners, which would strengthen Barclays’ UK wealth and investment arm, flagged in recent “UK stocks to watch” rundowns. ^[12]
A sector‑wide re‑rating of UK banks in 2025, driven by improved net interest margins, bigger buybacks and expectations of a gradual rate‑cut path rather than a cliff‑edge collapse in rates. TechStock²

Analyst round‑ups suggest Barclays trades on a single‑digit price‑to‑earnings multiple with a high single‑digit dividend yield, leaving room for further re‑rating if profitability holds up into 2026. TechStock²

3.3 HSBC Holdings (HSBA)

HSBC also appears in today’s high‑volume list, ending the session slightly lower at just over 1,050p. ^[13]

Recent themes:

The bank has been executing large‑scale buybacks through 2025, shrinking its share count and helping support the stock after bouts of volatility linked to its Asian businesses. TechStock²
Earlier this quarter, HSBC shares sold off after the bank walked away from a potential deal to buy the remaining stake in Hang Seng Bank, but the stock has since stabilised as investors refocus on dividends and capital returns. TechStock²

With UK and global rates expected to decline gradually rather than collapse, large banks like HSBC and Barclays are seen as beneficiaries of a “soft landing” scenario – able to sustain strong payouts even as loan growth slows. TechStock²+1

4. Spin‑offs and “sin stocks”: Unilever, Magnum and British American Tobacco

4.1 Unilever & The Magnum Ice Cream Company (ULVR & MICC)

One of the biggest structural stories in the UK market this week is Unilever’s demerger of its ice‑cream arm, now listed separately as The Magnum Ice Cream Company (MICC).

Key facts:

Unilever completed the ice‑cream spin‑off on 6 December, creating what is billed as the world’s largest independent ice‑cream company, with brands including Magnum, Ben & Jerry’s, Cornetto and Wall’s. ^[14]
Magnum shares began trading in Amsterdam, with secondary listings in London and New York. ^[15]
Reuters reports that Magnum’s European listing price of €12.96 per share implies a valuation of roughly $9.2bn, below some earlier expectations – leaving some investors underwhelmed. ^[16]
Following the demerger, Unilever is carrying out an 8‑for‑9 share consolidation, effective today, meaning holders get eight new Unilever shares for every nine old ones.

On the London Stock Exchange, Magnum (ticker MICC) quickly joined the FTSE 100 volume leaderboard, with around 1.5m shares traded today and a modest decline of about 0.75% to 1,114p. ^[17]

Today’s trading suggests investors are still price‑discovering:

Some see Magnum as a potential pure‑play growth story in branded treats and out‑of‑home ice‑cream.
Others worry about its seasonality, capital intensity and exposure to changing consumer tastes, especially with valuation coming in lower than early spin‑off chatter suggested. ^[18]

For Unilever, the spin‑off and consolidation are part of a broader effort to simplify the portfolio and improve margins. Commentary today stresses that the first full days of trading in the re‑based Unilever stock and the new Magnum shares will be closely watched as a barometer of appetite for UK‑listed consumer staples. TechStock²

4.2 British American Tobacco (BATS)

British American Tobacco (BATS) is one of today’s big talking points, with heavy trading and a sharp share‑price move:

The stock appears in the FTSE 100 top‑volume list, with around 1.48m shares traded, closing near 4,160p, down about 3.6% on the day. ^[19]
Earlier in the session, BATS dropped more than 5% after issuing a full‑year pre‑close trading update; the shares recovered slightly into the close but remained one of the index’s biggest fallers. ^[20]

What the update said:

BATS reaffirmed its 2025 guidance, saying it remains on track for low‑single‑digit revenue growth at constant currencies and continued progress in “New Categories” such as vapour, heated tobacco and modern oral nicotine. ^[21]
The group announced that, alongside its 2025 buyback of £1.1bn, it plans a further £1.3bn share repurchase in 2026, signalling confidence in long‑term cash generation. ^[22]

Analysts at several outlets summarised today’s message as “cash‑rich but still facing structural headwinds”:

An AskTraders note highlights that investors remain wary about falling cigarette volumes, regulatory risks and emerging restrictions on next‑generation nicotine products, even as BATS reiterates its dividend and buyback commitments. ^[23]

The result: very active trading, but net selling pressure – classic for a large income stock when guidance reassures on cash flow but fails to fully dispel long‑term demand worries.

5. Energy and commodities: BP, Shell, Glencore and Centrica

5.1 BP (BP.)

BP again ranks among the most‑active UK stocks:

Today it traded over 2.2m shares, closing around 447p, down roughly 0.7%. ^[24]

Context:

In recent sessions BP has been supported by news that it is in advanced talks to sell its Castrol lubricants business to Stonepeak in a deal likely worth over $8bn, part of a plan to raise $20bn in asset sales by 2027.
Brent crude prices have slipped slightly, trading in the low‑$60s per barrel today, tempering enthusiasm for energy stocks after a strong year. ^[25]

Strategists generally see BP as a high‑cash‑flow, high‑buyback oil major where near‑term returns are heavily tied to oil prices, asset‑sale execution and capital‑allocation discipline, themes that continue to drive daily trading interest. TechStock²

5.2 Shell (SHEL), Glencore (GLEN) and Centrica (CNA)

Shell (SHEL) traded just over 1.0m shares, ending fractionally lower at about 2,741p. ^[26]
Glencore (GLEN) was the third‑most‑traded FTSE 100 constituent by volume, with nearly 4.8m shareschanging hands and a 1.4% price decline to about 374p. ^[27]
- A recent London Stock Exchange tear‑sheet from 5 December shows Glencore’s stock has delivered a mid‑single‑digit gain year‑to‑date, underperforming the broader FTSE 350, with relatively low free‑cash‑flow yield compared with its historical median.
Centrica (CNA) also made the top‑20 list, trading just over 1.0m shares and finishing roughly flat at 168p. ^[28]

Together, these names show that energy and resource stocks remain a core liquidity hub for UK traders, even on a quiet index day.

6. Defensive income and domestic plays: Legal & General, Tesco, BT, retailers

6.1 Legal & General Group (LGEN)

Legal & General is the second‑most‑active FTSE 100 share by volume today, with over 11m shares traded and a small price gain to 250p. ^[29]

Why it’s attracting attention:

Multiple recent analyses highlight LGEN as one of the highest‑yielding FTSE 100 stocks, with a dividend yield around 8.5–9% at current prices.
The company has outlined a £5bn capital‑return plan for 2025–2027, combining ordinary dividends and buybacks as it refocuses on three core businesses.

Recent retail‑investor commentary – including pieces published yesterday and last week – is broadly bullish on the long‑term income story, while also flagging risks from interest‑rate moves, credit markets and regulatory capital requirements.

Today’s heavy trading reflects that LGEN is firmly in the crosshairs of yield‑hungry investors, especially with UK gilt yields drifting lower ahead of anticipated rate cuts.

6.2 Tesco (TSCO), JD Sports (JD.), Marks & Spencer (MKS) and Sainsbury’s (SBRY)

Consumer‑facing stocks also featured prominently in today’s volume ranking:

Tesco (TSCO) traded about 3.4m shares, falling 1.2% to roughly 445p. ^[30]
JD Sports Fashion (JD.) saw around 2.4m shares traded, with the stock down about 1.5%. ^[31]
Marks & Spencer (MKS) and Sainsbury’s (SBRY) also saw brisk activity, with Sainsbury’s ending up about 1.3% on just over 1.0m shares. ^[32]

Macro backdrop:

Today’s UK business coverage notes that grocery inflation remains stuck near 4.7%, with higher prices for meat and confectionery offsetting some relief elsewhere, keeping the sector’s pricing power – and consumers’ budgets – in focus. ^[33]

For investors, the message from current commentary is that UK food retailers and discretionary names are still trading on reasonable valuations after a strong rebound, but their fortunes are closely tied to real wage growth and the pace of interest‑rate cuts in 2026. TechStock²+1

6.3 BT Group (BT.A)

BT is another notable mover today:

BT shares are up around 1.3–1.8% near 180p, with more than 2m shares traded, putting it firmly in the top‑10 by volume. ^[34]

7. High‑beta aerospace: Rolls‑Royce (RR.)

Rolls‑Royce continues to be one of the most closely watched UK stocks:

Today the shares traded over 2m units, rising about 1% to around 1,119p, extending last week’s rally. ^[35]
Over the year, Rolls‑Royce has been one of the standout FTSE 100 performers, with recent rankings putting its 2025 gain around 80–85%, following an even more dramatic multi‑year recovery from 2022 lows.

Recent analyst and rating agency commentary is mixed but generally constructive:

Moody’s upgraded Rolls‑Royce’s credit rating to Baa1 in late November, expecting the company to meet medium‑term profit targets by 2026, well ahead of prior guidance, supported by strong demand in civil aerospace, defence and power systems.
Broker notes highlighted by the financial press show investment banks such as Deutsche Bank and BofA raising price targets (for example, to the 1,200–1,600p range), citing improving free‑cash‑flow yields and a younger, more profitable engine fleet.
At the same time, some commentators argue that the stock may now be 20–30% overvalued relative to their models after a 700%+ rebound from the 2022 trough, leading to bouts of profit‑taking and short‑term volatility.

Today’s action fits that narrative: high volume, modest upward grind, and ongoing debate between momentum traders and valuation‑focused investors.

8. Telecoms, media and index reshuffle: Vodafone and WPP

8.1 Vodafone Group (VOD)

Vodafone remains a staple of most‑active lists, with around 4.5m shares traded today and a price gain of nearly 1% to about 95p. ^[36]

Over the past week:

Historical data show Vodafone trading in a tight mid‑90p range, with tens of millions of shares changing hands daily as investors position around its ongoing restructuring, tower monetisation and potential asset disposals.

With no major company‑specific headlines today, volume in VOD looks to be driven by income investors and tactical traders rotating within the defensive telecoms sector, which remains sensitive to bond yields and regulatory risk.

8.2 WPP and the FTSE 100 reshuffle

WPP also features in the top‑volume list, up around 4.7% with over 1.4m shares traded as it reacts to FTSE index changes. ^[37]

FTSE Russell confirmed last week that British Land will be promoted into the FTSE 100, while WPP will be demoted to the FTSE 250 at the December quarterly reshuffle. TechStock²
Bloomberg and other outlets note that WPP’s market value has collapsed from about £24bn in 2017 to roughly £3bn, with its share price falling by around two‑thirds in 2025 amid client losses and concerns about AI‑driven disruption to advertising. TechStock²

The prospect of forced selling by index funds and ETFs tracking the FTSE 100, offset by buying from FTSE 250 trackers, is helping to drive elevated trading volumes and short‑term price swings in WPP in the run‑up to the reshuffle date. TechStock²

9. What today’s activity tells us about the UK market

Pulling everything together, today’s most‑active UK stocks highlight several key themes for investors on 9 December 2025:

Banks are back at the centre of the market.
Heavy volumes in Lloyds, Barclays and HSBC underscore how UK banks have been major winners of 2025, delivering strong capital returns and benefiting from a higher‑for‑longer rate environment – yet still trading on modest valuations by global standards. TechStock²
Buybacks and capital returns are driving flows.
From Lloyds’ £1.7bn buyback to BATS’ £1.3bn 2026 programme and LGEN’s £5bn capital‑return plan, investors are rewarding companies that commit to returning excess cash, especially in a market still seen as structurally undervalued. ^[38]
Spin‑offs and restructurings are in focus.
The Unilever/Magnum demerger and WPP’s FTSE demotion show how corporate actions and index changes can rapidly reshuffle sector weights, liquidity and sentiment in UK equities. ^[39]
Income remains king.
High‑yield names – Legal & General, British American Tobacco, BT and some energy stocks – continue to see robust trading as investors hunt for secure cash flows against a backdrop of slowing growth and falling interest rates. ^[40]
Growth stories still attract speculative volume.
Rolls‑Royce and Magnum illustrate that investors are still willing to pay up for credible growth narratives – aerospace recovery and structural demand for branded treats – even when valuations are stretched and volatility elevated. ^[41]

As always, today’s most‑active list is a snapshot, not a verdict. It shows where money is flowing right now – towards banks, high‑yield financials, energy, tobacco and restructuring stories – but not necessarily where it will be in six or twelve months.

10. Final thoughts and disclaimer

For readers tracking UK stock market news for 9 December 2025, the picture is one of quiet indices but busy order books:

The FTSE 100 is treading water near record territory, held up by banks and defensives. ^[42]
The real action is in stock‑specific catalysts: buybacks, spin‑offs, index reshuffles and earnings momentum.

If you’re considering investing in any of the companies mentioned:

Do your own detailed research into balance sheets, cash flows, valuations and risk factors.
Remember that share prices can go down as well as up, and today’s most‑active stocks can be tomorrow’s laggards.

This article is for information and news purposes only and does not constitute financial advice or a recommendation to buy or sell any security.

References

1. www.reuters.com, 2. www.hl.co.uk, 3. www.reuters.com, 4. www.hl.co.uk, 5. www.hl.co.uk, 6. shareprices.com, 7. www.hl.co.uk, 8. www.tipranks.com, 9. www.investegate.co.uk, 10. www.tipranks.com, 11. www.hl.co.uk, 12. www.marketscreener.com, 13. www.hl.co.uk, 14. www.foodingredientsfirst.com, 15. www.foodingredientsfirst.com, 16. www.reuters.com, 17. www.hl.co.uk, 18. www.reuters.com, 19. www.hl.co.uk, 20. shareprices.com, 21. www.bat.com, 22. www.bat.com, 23. www.asktraders.com, 24. www.hl.co.uk, 25. shareprices.com, 26. www.hl.co.uk, 27. www.hl.co.uk, 28. www.hl.co.uk, 29. www.hl.co.uk, 30. www.hl.co.uk, 31. www.hl.co.uk, 32. www.hl.co.uk, 33. www.thetimes.com, 34. www.hl.co.uk, 35. www.hl.co.uk, 36. www.hl.co.uk, 37. www.hl.co.uk, 38. www.tipranks.com, 39. www.reuters.com, 40. www.bat.com, 41. www.foodingredientsfirst.com, 42. www.reuters.com

UK Stock Market Movers Today (9 December 2025): Most‑Active FTSE 100 Stocks and What’s Driving Them

1. Market snapshot – FTSE 100 steady ahead of the Fed

2. Today’s most active FTSE 100 stocks by volume