FTSE 100 Live: Stocks open lower, CMC surges, SpaceX to IPO next week

CMC Markets surged 18% to a five-year high, briefly lifting the FTSE 100 as investors weighed mixed signals. Full-year NOI reached £393 million, up 15% year-on-year, but costs totaled £289 million, leaving pretax profit at £101 million vs. a £110 million consensus. Panmure Liberum cautioned that rapid development keeps costs high, while S4 Capital remains bullish on the long term. SpaceX confirmed an IPO for next Friday, aiming for a valuation near $1.77 trillion, with 555.6 million shares at $135 each to raise about $75 billion, a move that would place SpaceX among the world’s largest listed companies.