Axel Rudolph, senior technical analyst at IG, said: “China’s DeepSeek R1 AI, which surpassed ChatGPT as the top free app on the US App Store and apparently cost less than six million dollars to develop, made investors question lofty US tech valuations.
FTSE rebounds to edge higher amid strong consumer stocks The FTSE 100 recovered to close marginally higher amid a positive session for consumer and pharmaceutical stocks.
British American Tobacco helped drive the top index to gains as it was boosted by plans from the Trump administration to axe a proposed ban on menthol cigarettes and flavoured cigars in the US.
“Falling US Treasury yields and bargain hunters helped US indices recover with the Dow flatlining.”.
The pound was down 0.07% at 1.247 US dollars and was flat at 1.189 euros when London’s markets closed.
