UK Stocks Close Muted

2025-12-09 17:01 By Luisa Carvalho 1 min. read

London's FTSE 100 closed virtually unchanged at 9,642 on Tuesday, as investors braced for the Fed's policy decision on Wednesday.

The Magnum Ice Cream Company (-3.7%) emerged as the top loser a day after debuting as a standalone listed business, as some investment banks began weighing in on its prospects.

JP Morgan, citing short-term risks, gave the newly listed company a ‘neutral’ rating with a €14 price target, noting the stock is fairly valued compared to peers but “has yet to prove itself as a listed player.” On the opposite side, WPP surged 6.3% after the advertising giant reportedly secured a major government contract worth around £2 billion.

Defense companies also advanced, with BAE Systems and Babcock each rising 2.1%, following their European peers, after media reports indicated that Chancellor Friedrich Merz is poised to approve a record €52 billion in defense contracts.



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