UK Stock Market Today (24 December 2025): FTSE 100 Slips in Christmas Eve Trade as BP’s Castrol Sale and SolGold Takeover Lead Headlines

LONDON — UK shares ended Christmas Eve in the red after a holiday-shortened session defined by thin volumes, modest profit-taking and deal-driven stock moves. The FTSE 100 closed down 0.19% at 9,870.68, while the FTSE 250fell 0.16% to 22,314.50, as traders largely stepped back ahead of the two-day UK market closure for Christmas and Boxing Day. ( ^[1])

With the London Stock Exchange operating an early close and much of Europe also running on reduced hours (or shut), the day’s action was less about macro shocks and more about specific corporate catalysts—most notably BP’s landmark Castrol divestment, and SolGold’s agreed takeover—alongside positioning into year-end after a standout 2025 for UK equities. ( ^[2])

FTSE 100 and FTSE 250 close: a quiet session, a deal-heavy storyline

The headline indices barely moved in the bigger context of December’s rally attempts. Market commentary highlighted that the FTSE 100 had flirted with the psychological 10,000 milestone earlier in the month, but momentum faded as liquidity thinned into the holiday break. ( ^[3])

Reuters described a subdued tape with investors “winding down” positions, particularly in heavyweight healthcare names—one of the key reasons the blue-chip benchmark drifted lower in a session where many desks simply weren’t running full risk. ( ^[4])

What moved the FTSE 100 on 24 December: pharma pressure, selective strength elsewhere

Healthcare was a notable drag. Reuters reported that AstraZeneca and GSK each fell around 0.5%, contributing to the FTSE’s mild decline in an index where large defensives can move the headline even on a slow day. ( ^[5])

Beyond healthcare, the market picture was mixed rather than broad-based. Reuters noted that automobile-linked stocks rose while defence names declined on the day, reinforcing the sense that this was largely micro-driven price actionrather than a decisive macro risk-on or risk-off move. ( ^[6])

Top UK stock movers: Christmas Eve risers and fallers

Even in muted trade, there were clear movers across the UK’s main indices.

FTSE 100 risers (selected)

Schroders +1.50%
Pershing Square Holdings +1.07%
Persimmon +1.02%
Melrose Industries +0.76%
JD Sports Fashion +0.70% ( ^[7])

FTSE 100 fallers (selected)

Games Workshop -1.46%
Fresnillo -1.42%
Rolls‑Royce -0.91%
Admiral Group -0.82%
Burberry -0.71% ( ^[8])

FTSE 250 movers (selected)

Diversified Energy Company +3.35% (riser)
Ashmore Group +2.11% (riser)
Ceres Power -3.18% (faller)
IP Group -2.04% (faller) ( ^[9])

This kind of dispersion is typical of late-December sessions: index-level calm paired with stock-specific moves as liquidity drops and headlines dominate.

BP’s Castrol deal: why it mattered to UK markets today

The centrepiece corporate story was BP’s agreement to sell a 65% stake in Castrol to Stonepeak for around $6 billion, a transaction valuing Castrol at $10.1 billion (enterprise value). BP will retain a 35% stake in the new joint venture and can sell it after a two-year lock-in period. ( ^[10])

The deal is strategically significant for three reasons:

Debt reduction and balance-sheet optics
BP said proceeds will be used to reduce debt, and the transaction includes about $800 million linked to accelerated dividend payments on BP’s retained stake. ( ^[11])
A major step in a broader divestment plan
Reuters reported BP’s wider ambition to sell $20 billion of assets and reduce net debt from roughly $26 billion to a lower range by end‑2027. ( ^[12])
A debate about “quality of earnings”
Analysts were not uniformly positive. Reuters cited RBC questioning the logic of selling a “highly cash generative” asset, warning it could be detrimental to dividend sustainability and earnings quality over time—even if it helps near-term deleveraging. ( ^[13])

In the market, BP’s shares ended slightly lower on the day in London, reflecting a “good headline, but complicated implications” reaction rather than a straightforward relief rally. ( ^[14])

SolGold takeover: a London-listed copper deal with global tailwinds

Another major Christmas Eve headline was SolGold’s agreement to be acquired by its largest shareholder, Jiangxi Copper, in an all-cash deal valuing the company at about £867 million (around $1.17 billion). The offer is 28 pence per share, representing an almost 43% premium to SolGold’s 19 November close (the day before Jiangxi’s first approach). ( ^[15])

The market relevance goes beyond a single mid-cap name:

The deal hands Jiangxi control of SolGold’s Cascabel project in Ecuador. ( ^[16])
Reuters linked the transaction to a wider race for copper supply, underpinned by demand tied to electric vehiclesand AI infrastructure buildout—themes that have increasingly shaped mining M&A. ( ^[17])
SolGold’s shareholder register includes heavyweight global miners, including BHP and Newmont, underlining how strategically watched the asset has been. ( ^[18])

For the UK market narrative, it’s also another reminder that London remains a major listing venue for global resources plays—and that UK equities in 2025 have benefited heavily from commodity exposure.

Petrofac and other UK-listed updates: jobs, restructurings and REIT activity

While the FTSE headlines were dominated by BP and SolGold, there were other notable London-listed updates worth flagging from Christmas Eve.

Petrofac: Asset Solutions sale to CB&I

Petrofac said it agreed to sell its Asset Solutions business to Texas-based CB&I, with the transaction framed as supporting job security for approximately 3,000 employees expected to transfer on completion (anticipated in Q1 2026). ( ^[19])

Sharecast reported that administrators expect net proceeds in a $45m to $55m range, though the final figure depends on deductions to be confirmed closer to completion. ( ^[20])

Supermarket Income REIT: £98m portfolio move

In UK real estate, Supermarket Income REIT announced the acquisition of three UK supermarkets for £97.6 million, at an average net initial yield of 5.5%, including stores leased to Tesco, Sainsbury’s and Waitrose. ( ^[21])

Sterling, global markets and the “Santa rally” backdrop

Currency and global risk sentiment provided a supportive (if not decisive) backdrop. Investing.com reported the pound held above $1.35 against the dollar while UK equities drifted, a combination that tends to reflect relative calm rather than stress—especially in a shortened session. ( ^[22])

Internationally, Wall Street’s tone was firmer. A live market wrap highlighted that the S&P 500 and Dow hit record highs into Christmas Eve, reinforcing the idea that risk appetite remained intact globally even if London’s cash session was subdued. ( ^[23])

That matters for UK equities because a large portion of FTSE 100 revenues are generated overseas, and the index often trades as a proxy for global growth + commodities + financial conditions as much as UK domestic demand.

Big picture: FTSE 100 set for a standout 2025 as miners and banks lead

Even though Christmas Eve ended slightly lower, the wider context is that UK equities are finishing 2025 strongly.

Reuters reported that the FTSE 100 was on track to end the year up around 20.7%, marking a fifth consecutive annual rise and outperforming major US and European benchmarks—driven largely by miners, financials and defence stocks. ( ^[24])

An additional market analysis published on 24 December argued that the FTSE’s low tech weighting—often viewed as a structural disadvantage—proved beneficial in 2025 as doubts periodically surfaced about the durability and valuation of parts of the US AI trade. That same analysis highlighted the role of financials and miners in powering returns and pointed to a renewed focus on dividends and buybacks across UK blue chips. ( ^[25])

FTSE 100 forecast and outlook: what analysts said on 24 December about 2026

Christmas Eve didn’t just bring market wraps—it also produced forward-looking calls and debate about what comes next for UK equities.

The bullish-to-neutral case: 10,000 is the psychological level to watch

A 24 December analysis suggested cautious optimism for 2026, with the FTSE 100’s 10,000 level framed as a key focal point. It cited potential tailwinds including:

resilient corporate earnings,
attractive dividend yields,
ongoing buybacks,
and the potential support of further interest-rate cuts. ( ^[26])

Separately, London close commentary carried an IG view that the “rotation trade” away from expensive areas of the US market could continue to benefit the FTSE into 2026—particularly if concerns about an “AI bubble” and valuation concentration remain live issues. ( ^[27])

The technical view: key levels traders are watching

That same 24 December analysis flagged technical signposts: a push above the recent highs around the 9,900–9,930 area would sharpen attention on 10,000, while pullbacks had identified support zones below. ( ^[28])

The contrarian case: mean reversion after a strong run

Not everyone is upbeat. A separate 24 December commentary offered a more cautious prediction, warning that after multiple strong years, the FTSE 100 could face a more difficult 2026—essentially a mean-reversion argument after a powerful stretch for cyclicals and commodities. ( ^[29])

What to watch when UK markets reopen after Christmas

With UK markets closed for Christmas and Boxing Day, the next sessions typically bring thin liquidity and occasional volatility spikes as investors reposition into year-end. Key watchpoints for UK stocks after the break include:

Follow-through on BP: whether investors ultimately reward the debt-reduction path or penalise the sale of a highly cash-generative asset. ( ^[30])
Copper M&A and miners: SolGold’s deal reinforces the idea that strategic metals remain in focus—especially with AI infrastructure demand part of the narrative. ( ^[31])
GBP/USD sensitivity: sterling’s firmness above $1.35 can shape the FTSE 100’s multinational earnings translation story if it persists. ( ^[32])
The “Santa rally” question: whether the post-Christmas period delivers the seasonal lift often discussed in market commentary. ( ^[33])

Bottom line (24 December 2025): The UK stock market’s Christmas Eve session was quiet on the surface—FTSE 100 down 0.19%—but the headlines weren’t. BP’s Castrol divestment, SolGold’s takeover, and Petrofac’s Asset Solutions sale delivered real corporate substance on a day when macro drama was absent and liquidity was scarce. The bigger story remains that UK equities are closing 2025 with strong momentum—and the debate is now shifting to whether that strength can carry the FTSE 100 toward 10,000 in 2026, or whether a post‑rally cooldown arrives first. ( ^[34])