UK Stock Market Preview for Monday 8 December 2025: FTSE 100, Magnum Listing, Shell Dividend and BoE Cut Bets

London’s stock market goes into Monday’s session with the FTSE 100 still close to record highs, but momentum has cooled as energy and bank shares come under pressure and investors focus on a pivotal week for central banks. At the same time, a major consumer spin‑off – The Magnum Ice Cream Company – is set to start trading in London, while a wave of index, dividend and corporate actions adds extra moving parts for traders to digest. TechStock²+1

Here’s what to watch before the opening auction on Monday 8 December 2025.

1. Where the FTSE 100 Starts the Week

The FTSE 100 finished Friday 5 December at 9,667.01, a drop of about 0.5% on the day and a loss of roughly 0.5–0.6% over the week, according to index data from London markets. That leaves the benchmark just below 9,700 and not far from its 52‑week high around 9,930, but with signs that the rally is losing some steam. TechStock²+1

Sector performance on Friday underlined the shift in tone:

Energy stocks led the decline. Reuters reports that BP fell about 2.6% and Shell around 1.4%, dragging the oil & gas sub‑index lower as crude prices eased. ^[1]
Banks also slipped. Major lenders such as Standard Chartered, Barclays and HSBC each lost more than 1%, leaving the FTSE 100’s financials segment firmly in the red for the week. ^[2]
Defence and aerospace names softened, with BAE Systems and Rolls‑Royce edging down after a strong run earlier in the year. ^[3]
Defensive and premium consumer names outperformed. Personal‑goods stocks including Watches of Switzerland and Burberry advanced, helped by broker upgrades, while chemicals groups such as Crodaparticipated in a broader rotation into quality defensives. ^[4]

The result is a market that is still elevated in level terms but increasingly sensitive to macro headlines, currency moves and sector‑specific news.

2. Global Macro Backdrop: Fed Cut Hopes, China Data and UK GDP

Global risk sentiment going into Monday is dominated by expectations of a US Federal Reserve rate cut later this week.

IG’s “Week Ahead” outlook notes that US equities head into the week near record levels, with futures markets pricing in around a 25‑basis‑point cut at the upcoming Federal Open Market Committee meeting, helped by softer jobs and inflation data. ^[5]
Recent US releases – including employment indicators and inflation measures – have reinforced the view that growth is cooling but not collapsing, allowing room for cautious monetary easing. ^[6]
Globally, Reuters reports that world stocks and US Treasury yields have been moving on these Fed expectations, with traders also weighing the possibility of more cuts in 2026. ^[7]

In Asia and Europe, Monday’s open in London will be framed by:

China’s trade figures, due on Monday, and inflation data later in the week – both key for FTSE‑listed miners and exporters that depend on Chinese demand. ^[8]
A run of Eurozone inflation data that has edged back toward the 2% target, keeping speculation alive about when the European Central Bank might follow the Fed in cutting rates. ^[9]

Closer to home, attention will quickly shift to UK GDP for October, due Friday. An S&P Global / Market Intelligence preview highlights this release as the UK data point to watch, noting that output shrank 0.1% in September, partly due to disruption at a major car plant, with October expected to rebound slightly but overall growth still looking close to flat. ^[10]

For Monday’s open, that cocktail means traders are likely to be cautious about big directional bets until they see both how Asia trades and how Fed expectations evolve.

3. Magnum Arrives: Unilever’s Ice‑Cream Giant Lists in London

One of the headline corporate events for Monday 8 December is the stock‑market debut of The Magnum Ice Cream Company N.V. (TMICC), Unilever’s spun‑off ice‑cream business.

Key details of the spin‑off

The separation of Unilever’s ice‑cream division completed over the weekend, creating TMICC as a standalone company housing brands such as Magnum, Cornetto, Wall’s and Ben & Jerry’s. ^[11]
TMICC shares are scheduled to begin trading on Monday via a primary listing on Euronext Amsterdam with secondary listings in London and New York, aligning with the London cash‑equity open. ^[12]
Euronext has set a reference price of €12.80 per share for Magnum’s Amsterdam debut. This is a guide for the opening auction, not a fixed valuation, with trading halts triggered if prices move more than 20% above or below that reference level in early dealing. ^[13]
Unilever shareholders receive one TMICC share for every five Unilever shares, and Unilever plans to retain around 19.9% initially, with an intention to exit fully over time. ^[14]

TMICC is expected to be the world’s largest pure‑play ice‑cream company, with multi‑billion‑euro revenues and a leading global market share. ^[15]

Why it matters for UK stocks on Monday

Volatility in Unilever and TMICC is likely around the open as investors work out their preferred exposure to the new entity versus the slimmed‑down Unilever group.
Magnum will not be eligible for FTSE index inclusion, meaning some index‑tracking or benchmark‑constrained funds may be forced sellers of the new shares over time, potentially adding pressure after an initial pop. ^[16]
The spin‑off could also catalyse rotation within consumer‑staples holdings, with investors comparing Magnum’s growth and margin prospects with other big UK‑listed names such as Diageo and Reckitt.

Expect Magnum and Unilever to be among the most closely watched stocks during Monday’s first hour of trade.

4. Energy in Focus: Oil Slide and Shell’s Dividend FX Decision

Energy was the main drag on the FTSE 100 last week. Reuters notes that the oil & gas sub‑index led Friday’s decline as crude prices slipped, with BP downgraded by Bank of America and both BP and Shell firmly lower on the day. ^[17]

Against that backdrop, Shell is a particularly important name to watch on Monday:

Shell has already declared a third‑quarter 2025 interim dividend of US$0.358 per ordinary share (US$0.716 per ADS). ^[18]
The company has confirmed that the pound‑sterling and euro equivalents of this dividend will be announced on Monday 8 December, with payment scheduled for later in the month. ^[19]

For income‑focused investors, the FX translation is not a trivial detail: a stronger pound reduces the sterling value of dollar‑denominated dividends, even as it helps UK importers by lowering costs. With Shell and BP together accounting for a substantial slice of the FTSE 100, further weakness in oil prices or any surprise around Shell’s capital‑returns plans could have an outsized impact on the index at the open. ^[20]

5. Banks, the BoE and Private‑Market Risks

UK banks underperformed into the weekend, falling about 1.2% on Friday and lagging the broader index. ^[21] Yet the policy backdrop is turning more supportive in some respects.

Rate‑cut expectations

A Reuters poll of economists in mid‑November found that nearly 80% of respondents expect the Bank of England to cut Bank Rate by 25 bps to 3.75% at its meeting on 18 December, with another cut forecast for early 2026. ^[22]
The BoE’s November Monetary Policy Report showed a narrow 5–4 vote to keep rates at 4%, with four members pushing for a cut and the Bank acknowledging that downside risks to growth are becoming more prominent as inflation eases. ^[23]

If markets continue to anticipate a “Christmas cut”, that should, in theory, support domestic credit demand and take some pressure off banks’ funding costs.

Capital rules and stress‑testing

At the same time, regulators are tightening their focus on hidden vulnerabilities:

The Bank of England has launched a system‑wide exploratory scenario designed to test how the $16 trillion global private‑markets ecosystem – including private equity and private credit – would cope with a severe shock, highlighting the growing importance of these markets for UK companies and jobs. ^[24]
A separate Reuters report emphasises that the exercise will run through 2026 and culminate in a report in early 2027, examining how stress could spill over from private markets into the broader financial system, including banks and insurers. ^[25]

For lenders such as Barclays, HSBC, Standard Chartered and NatWest, Monday’s trading will be shaped by the tug‑of‑war between the prospect of rate cuts (potentially supportive for earnings) and heightened scrutiny of credit and private‑market exposures.

6. Index Review: WPP’s Demotion and British Land’s Promotion

Structural flows are another theme for Monday.

FTSE Russell confirmed on 3 December that:

British Land Co will be promoted to the FTSE 100,
while advertising group WPP will be relegated to the FTSE 250 as part of the December 2025 quarterly review. ^[26]

These changes will be implemented after the close on Friday 19 December and take effect when markets open on Monday 22 December. However, the review list is now fixed, and active managers often start adjusting portfolios well before the official rebalance date. ^[27]

Adding to the pressure on WPP, several US law firms, including Rosen and Faruqi & Faruqi, have highlighted 8 December 2025 as the deadline for investors to seek lead‑plaintiff status in securities class actions tied to the company’s 2025 share‑price slide. ^[28]

Taken together, that means:

WPP could face a combination of legal overhang and index‑related selling.
British Land may attract incremental demand from funds anticipating its entry into the blue‑chip benchmark.

Both stocks are worth monitoring for outsized moves and elevated volumes on Monday.

7. Earnings and Corporate Calendar: Quiet Monday, Busy Mid‑Week

On the earnings front, Monday itself looks relatively subdued for UK blue chips:

Hargreaves Lansdown’s “Next week on the stock market” preview notes no FTSE 350 companies scheduled to report on Monday 8 December. ^[29]

From Tuesday onwards, however, the pace picks up:

Tuesday 9 December:
- Ashtead – Q2 results; markets are watching whether softness in US construction continues to weigh on growth.
- British American Tobacco (BAT) – full‑year trading update, with investors looking for signs of progress on debt reduction and next‑generation products.
- Chemring Group – full‑year results.
- Moonpig Group – half‑year results. ^[30]
Wednesday 10 December:
- Berkeley Group – half‑year figures, important for read‑throughs on the UK housing market.
- TSMC – sales numbers, relevant to global tech sentiment.
- TUI – full‑year results and an update on its dividend policy and 2026 trading outlook. ^[31]
Thursday 11 December:
- NCC Group – full‑year results. ^[32]

Although Monday is short on big scheduled reports, positioning ahead of these releases may already influence trading in Ashtead, BAT, TUI and related names.

Other corporate actions on Monday 8 December

Beyond Magnum and Shell, a cluster of smaller but notable events is set for Monday:

THG expects the admission of new ordinary shares from a convertible loan to become effective, changing its total voting rights. ^[33]
Victorian Plumbing has applied to admit nearly 1 million new shares to trading on AIM from 8 December. ^[34]
The Schiehallion Fund is holding an extraordinary general meeting aimed at approving changes to move to the LSE main market, introduce a sterling quotation and alter its capital structure, with admission of new share classes expected later in the week. ^[35]
Anglesey Mining is pricing a warrant offering linked to an investment from Energold, with the exercise price based on a five‑day VWAP that runs through the close on 8 December – something that could encourage active trading in that stock into the deadline. ^[36]

Individually, these actions won’t move the FTSE 100, but they may spark stock‑specific volatility in the AIM and investment‑trust space and help set the tone for UK small and mid‑caps.

8. Sterling, Rates and Cross‑Asset Flows

The stronger pound and evolving rate expectations are another key piece of Monday’s puzzle.

Analysts at several banks have turned more constructive on sterling after the Autumn Budget, arguing that the fiscal package soothed bond‑market nerves and boosted the UK’s perceived “fiscal headroom”. ^[37]
Futures markets have largely priced in both a Fed rate cut this week and a BoE cut on 18 December, according to Reuters coverage of global markets and interest‑rate expectations. ^[38]

For UK equities, the implications are nuanced:

A firmer pound tends to be a headwind for large multinationals that earn most of their revenues in dollars or euros (big pharma, energy, global consumer staples), as overseas earnings translate into fewer pounds.
At the same time, a stronger currency and lower domestic rates can support domestically focused names – including retailers, housebuilders and some mid‑cap banks – by easing imported inflation and improving financing conditions.

Monday’s price action in FX‑sensitive sectors like energy, big pharma, luxury consumer and domestic cyclicals will offer an early read on which narrative is winning.

9. Monday’s Trading Playbook: Themes and Stocks to Watch

Putting the pieces together, here’s how the UK market set‑up for Monday 8 December 2025 looks:

FTSE 100 starting near record territory but momentum fragile
- The index is only a few percent below its 52‑week high, yet last week delivered a clear risk rotation away from energy and banks and towards quality defensives and select consumer names. ^[39]
Magnum and Unilever in the spotlight
- Expect heightened interest in both stocks as traders discover Magnum’s standalone valuation and re‑balance portfolios following the spin‑off.
- The absence of FTSE index eligibility for Magnum introduces an additional twist: potential forced sellingfrom index‑tracking vehicles over time. ^[40]
Energy and Shell: dividend FX and oil prices
- Shell’s currency announcement for its Q3 dividend arrives just as oil majors struggle with weaker crude and a recent wave of downgrades, making the sector a key swing factor for the FTSE 100. ^[41]
Banks balancing BoE relief and regulatory scrutiny
- Hopes for a December rate cut and a gradual easing path support the sector longer term, but fresh Bank of England work on private‑market vulnerabilities keeps credit risk and capital requirements firmly in focus. ^[42]
Index reshuffle and legal overhangs
- British Land and WPP sit at the crossroads of FTSE index flows and US class‑action deadlines, making them prime candidates for outsized moves and heavy volumes on Monday. ^[43]
Macro event risk ramps up through the week
- Monday is just the opening act ahead of a Fed meeting, RBA decision, Chinese trade data and UK GDP, all of which could reshape rate expectations and risk appetite by the end of the week. ^[44]

For short‑term traders, that likely argues for tactical, selective positioning – focusing on the obvious catalysts (Magnum/Unilever, Shell, the big banks, WPP/British Land) rather than broad index calls. Longer‑term investors may be more interested in how the combination of lower rates, a stronger pound and ongoing corporate restructuring reshapes the relative appeal of UK blue chips versus global peers.

10. Final Thoughts and Important Note

Monday’s open on the London Stock Exchange is shaping up to be busy even without a heavy earnings slate. The mix of a high‑profile consumer spin‑off, a crucial week for central‑bank decisions, an approaching BoE rate cut and ongoing index reshuffles ensures plenty for UK investors to monitor.

As always, remember that this article is for information and news purposes only and does not constitute investment advice. Anyone considering trading or investing in the securities mentioned should do their own research or consult a qualified financial adviser.