London's FTSE 100 Hits New Peak; Next plc Shines Post Trading Update

11:55 AM EST, 01/06/2026 (MT Newswires) -- UK shares extended their rally on Tuesday, with the FTSE 100 rising 1.18% at closing and reaching a new all-time high during the session, amid fresh corporate updates and economic data. Retailer Next plc (NXT.L), up 4.97%, was among the top blue-chip gainers after raising its guidance for after-tax EPS and total group sales for fiscal 2026. "Next finished a very robust year with strong +10.6% 4Q sales growth, ahead of guidance and investor expectations, with FY26E PBT guidance raised by c.+1% to [1.15 billion pounds sterling]," said Deutsche Numis Research. "This was driven by better-than-expected performance at UK (+5.9% vs +4% guidance) and robust International (+38.3% vs +24% guidance). Compared to our forecast the entire beat related to International." Meanwhile, drugmaker GSK (GSK.L) climbed 4.34% after securing Japanese approval for Exdensur, or depemokimab, for the treatment of bronchial asthma and chronic rhinosinusitis with nasal polyps. On the economic front, Britain's private sector output continued to grow in December 2025, with both the services and manufacturing sectors seeing a marginal rise in business activity amid a "moderate" recovery in total new work, according to S&P Global. The S&P Global UK Composite PMI edged up to 51.4 from 51.2 in November 2025, missing the flash estimate of 52.1. "Modest growth of incoming new work was attributed to tentative signs of a recovery in client confidence after an extended period of pre-Budget gloom," said S&P Global Market Intelligence Economics Director Tim Moore. "However, survey respondents still noted sales headwinds linked to weak UK economic prospects, alongside challenging operating conditions due to factors such as sharply rising business costs and soft demand in major overseas markets." The UK government's gross reserve assets rose to $224.75 billion in December 2025 from $222.49 billion in the previous month, according to Bank of England data.