Some fizz was put back into Fevertree as the upmarket tonic maker unveiled a long-term strategic partnership in the US, writes Jon Hopkins.

As part of the deal, US brewer Molson Coors is set to buy an 8.5pc stake in the AIM-listed firm for £71m, with the proceeds to be returned to investors via a share buyback.

Fevertree, which first entered the US market in 2008, said the partnership is for the exclusive sales, distribution and production of its brands.

The deal, just months after Danish brewer Carlsberg agreed to buy rival UK soft drinks maker Britvic for £3.4bn, propelled Fevertree 20.2pc, or 133p, higher to 791p.

As global markets recovered from a roiling at the start of the week, the FTSE 100 breached the 8600 level for the first time ever, ending ahead 1pc, or 89.07 points, at 8646.88, a new record high.

Meanwhile, the FTSE 250 jumped by 1.2pc, or 245.37 points, to 20,805.07.

A busy day of blue-chip earnings saw Airtel Africa top the FTSE 100 leaderboard, adding 9pc, or 12p, at 145p, as the telecoms firm reported a strong third-quarter operating performance and launched a second £80m share buyback.

Meanwhile, wealth manager St James's Place gained 10.9pc, or 101p, at 1030p after its assets under management hit a record level last year.

But Sage Group shed 0.6pc, or 7.5p, to 1329p as the accounting software firm only maintained its revenue forecast for fiscal 2025, even after posting 10pc growth in first-quarter underlying revenue.

Airlines remained a blue-chip focus, with Easyjet rising 4.3pc, or 20.9p, to 511.6p and British Airways-owner IAG up 1.2pc, or 4.1p, to 334.8p, supported by airport expansion plan hopes.

But Wizz Air dropped 5.5pc, or 76p, to 1296p as the FTSE 250-listed firm cut its annual net income forecast for the second time in six months.

Higher on the second line, outsourcing firm Serco rose 3.5pc, or 5.3p, to 155.9p as it agreed to acquire Northrop Grumman's mission training and satellite ground network communications software business for £263m.

Online fashion company Asos climbed by 7.9pc, or 32p, to 436.4p, lifted by news it is to return to the FTSE 250 next week.

It will take the place of Polar Capital Technology Trust, which is being promoted to the FTSE 100 following the takeover of DS Smith by International Paper.

Science in Sport gained 6pc, or 1.5p, at 26.5p as the performance nutrition firm said that it expects a return to growth seen in the second half of 2024 to continue into 2025.

But Futura Medical dropped by 46.8pc, or 14.5p, to 16.5p as the sexual health product manufacturer said that it now expects its 2025 revenue to be 50pc below previous forecasts.

And Ricardo shed 25pc, or 88p, to 264p after the environmental and engineering consulting firm warned of order delays.