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FTSE 100 Live: Diageo taps new top chief; private equity swoop

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The City PM Live Blog
The City PM FTSE 100 liveblog with your top market stories.

Good morning from the City PM liveblog team,

It’s a new week in the City and markets will be hoping for a recovery rally after tech jitters sent stocks deeper into the red on Friday.

There’s a mixed bag of factors weighing on global indexes, namely the ongoing government shutdown in the US and the anxiety surrounding a market correction from the ever-ballooning AI bubble.

Last week, the FTSE 100 lost 0.36 per cent falling to 9,682.57p. London’s blue-chips have been able to curb some of the more severe tech jitters, due to being heavily weighted on oil and healthcare stocks.

But the City has still found itself swept up in investor sell-offs from the US government shutdown.

Meanwhile, on Wall Street markets suffered some of their worst performances since President Donald Trump spooked investors across the globe with his ‘Liberation Day‘ tariffs.

The S&P 500 and Dow Jones each lost over one per cent whilst the tech-heavy Nasdaq lost three per cent over the course of the week – its worst five-day period since the week ending April 4 where it plunged 10 per cent.

Total losses for AI-related firms topped over £750bn. Chipmaker Nvidia fell nearly ten per cent over the course of the week, a bruising of over £350bn. Meta – the owner of Facebook, Whatsapp and Instagram – lost near £68bn.

After warnings from top industry names and a damning assessment from a stock picker famed for predicting the Global Financial Crisis, will the tensions continue into the new week?

We’ll be bringing you the top stories as we get them.

Here are a few of our top stories from the last few days: