FTSE 100 Live: FTSE 100 clings to gains as oil nears $100

Britain’s government approved a 20-year life extension for the Sizewell B nuclear plant in Suffolk, owned by EDF, allowing it to generate until 2055. Sizewell B, synchronized with the grid in 1995, was due to close within the next decade. The deal pays EDF £70.50 per MWh from 2035 and involves Centrica’s 20% stake.

Mistral AI said it is expanding into advanced manufacturing, signing deals with Airbus SE and BMW AG to apply its “physical AI” to areas including design, simulation and quality control. Financial terms were not disclosed. Mistral targets €1bn+ revenue by 2026, plans ~€10bn capex for data centers, and expects a 10MW inferencing site near Paris to open in Q3.

American Airlines reports a $1 billion increase in Q4 fuel costs due to higher jet fuel prices, driven by the U.S.-Israeli war against Iran. CFO Devon May noted a $1 per gallon increase from July guidance, adding $10 million per quarter for each cent increase. The airline plans to reduce flights and increase premium seats to offset costs. According to CNBC, CEO Robert Isom highlighted plans to grow premium seating.

Paramount Skydance (PSKY) shares fell after Barclays resumed coverage with an Underweight rating and $8 price target, citing merger execution risks and debt concerns. Despite potential growth in Paramount+ streaming, weak profitability and high debt leave the company vulnerable to earnings pressure.

The U.S. Army awarded Sikorsky, a Lockheed Martin [LMT] subsidiary, a contract for 16 additional UH-60 Black Hawk helicopters. The deal is a preliminary step toward a potential multi-year contract for continued production. Sikorsky expects to finalize the contract in the first half of 2027, establishing a 'Buy 11' deal.

UBS raised Newmont's price target to $155 from $120, citing improved capital returns outlook and resolution of a key overhang. The bank expects significant shareholder returns and production growth per share. Newmont has outperformed the GDX gold index by less than 5% since the resolution, which UBS believes does not fully reflect the improved outlook.