The FTSE 100 briefly surpassed the 10,000-point mark for the first time on Friday, reaching a high of 10,046 before easing back. The milestone caps a stellar year for the blue-chip index, which rose by 21.5% in 2025, its best annual gain since 2009.
In other market news, Chinese carmaker BYD has overtaken Tesla as the world's top seller of electric vehicles. BYD sold 2.26 million electric cars in 2025, up 28% from the previous year, while Tesla delivered 1.64 million vehicles, a 9% decline. Tesla's sales have been affected by growing competition in Europe and backlash against CEO Elon Musk's political stance.
UK house prices unexpectedly fell in December, according to Nationwide. The average property price dropped 0.4% month-on-month to £271,068, defying forecasts of a 0.1% rise. Annual house price growth slowed to 0.6%, the weakest since April 2024.
Uber has avoided paying millions under the new 'taxi tax' by rewriting driver contracts. From January 2026, Uber will act as an agent outside London, meaning drivers contract directly with passengers and must charge VAT only on fares above £90,000. This change circumvents the 20% VAT on all fares that the government expected to raise £700 million annually.
