UK's FTSE 100 index ⁠paused near record levels in the final stretch of 2025 on Thursday, looking to ⁠wrap up its ‌strongest annual gain in 16 years in a shortened trading session.

The blue-chip FTSE 100 was about flat by 0902 ⁠GMT after closing at a record level a day earlier. The domestically focussed midcap index dipped 0.3%.

Trading activity was muted with markets expected to close at half past noon ahead of the New Year holiday ⁠on January 1.

After years of ​underperformance, Britain’s blue-chip FTSE 100 is set to outpace major global markets in 2025, lifted ‍by expectations of further Bank of England rate cuts, strength in financials and miners and its ​appeal as a relatively cheap diversifier during bouts of global volatility.

The index rose more than 21% over the year, heading for a fifth straight annual gain and its strongest performance since 2009. By comparison, the pan-European STOXX 600 gained 16.6% and the U.S. S&P 500 climbed 17.2%.

Earlier in December, the BoE delivered its fourth 25-basis-point cut of the year in a narrow vote, while signalling the already gradual pace of easing may slow further.

The resources-heavy ⁠FTSE 100 drew support from miners Fresnillo, Endeavour ‌Mining and Antofagasta , which advanced on the back of surging gold, silver and copper prices this year. In contrast, Bunzl and Diageo tumbled around 37% ‌each, leaving ⁠the business supplies distributor and the world’s largest spirits maker among the index’s biggest ⁠laggards.

(Reporting by Medha Singh in Bengaluru; Editing by Nivedita Bhattacharjee)