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LONDON MARKET CLOSE: FTSE 100 closes choppy week higher amid US rally
- FTSE 100 Performance:
- Closed up 60.53 points (0.6%) at 10,369.74 on Friday.
- Weekly gain of 1.4% despite volatility.
- Other UK Indices:
- FTSE 250 ended up 104.54 points (0.5%) at 23,207.89, but down 0.2% for the week.
- AIM All-Share advanced 3.90 points (0.5%) at 806.80, down 1.5% for the week.
- Sector Performance:
- Data providers and software stocks faced losses due to AI-driven disruption fears.
- Relx, Experian, Sage, and London Stock Exchange declined on the FTSE 100.
- European Equities:
- CAC 40 (Paris) up 0.4%, DAX 40 (Frankfurt) up 0.9%.
- Stellantis plummeted 25% after announcing a net loss of EUR19-21 billion and suspending its dividend.
- US Markets:
- Dow Jones, S&P 500, and Nasdaq Composite rallied 1.8%, 1.4%, and 1.4% respectively.
- Amazon fell 8.0% on disappointing Q1 guidance and increased capital expenditure plans.
- Commodities:
- Gold up at USD4,946.87/ounce.
- Brent oil up at USD68.47/barrel.
- Currency Movements:
- Pound higher at USD1.3612.
- Euro up at USD1.1814.
- Dollar slightly higher against the yen at JPY157.04.
- Corporate Highlights:
- Metlen Energy & Metals sank 20% on revised down earnings expectations.
- Amazon plans to invest USD200 billion in 2026, primarily in AWS.
- Upcoming Economic Data:
- Delayed US nonfarm payrolls, US inflation figures, and UK GDP reading next week.
- Plus500 and Porvair to release full-year results on Monday.
LONDON MARKET MIDDAY: FTSE 100 rallies despite AI investment fears
- FTSE 100 Rally: London stock prices mostly higher at midday, with FTSE 100 up 0.2% at 10,326.85, recovering from earlier AI-related jitters from the US.
- European Markets: CAC 40 in Paris up 0.1%, DAX 40 in Frankfurt up 0.6%.
- Currency Movements: Sterling up to USD1.3583, euro marginally lower at USD1.1790, dollar slightly higher against yen at JPY157.08.
- Sector Performance: Energy sector (BP, Shell) benefited from rising oil prices; banks and pharma supported FTSE 100, while tech, mining, and industrials dragged.
- AI Concerns: Software, data, and analytics sectors faced pressure due to AI-related disruption fears; Relx down 3.5%, Sage Group down 1.8%.
- Metlen Energy & Metals: Sank 16% on FTSE 100 after revising down earnings expectations due to challenges in M Power Projects and M Renewables.
- HgCapital Trust: Rose 6.1% on FTSE 250 after reporting higher net asset value and strong trading from underlying portfolio companies.
- Baker Steel Resources Trust: Shares up 11% due to increased net asset value driven by strong commodity prices.
- Commodity Prices: Gold higher at USD4,888.10/ounce, Brent oil little changed at USD67.38/barrel.
- Political Developments: Pressure on UK PM Keir Starmer to sack senior adviser Morgan McSweeney amid Peter Mandelson scandal fallout.
- US Markets: Dow Jones, S&P 500, and Nasdaq called higher; US Treasury yields unchanged.
LONDON BROKER RATINGS: Oddo BHF cuts Wizz Air and Ryanair
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- 6th Feb 2026 09:37
- The following London-listed shares received analyst recommendations Friday morning and on Thursday:
-
FTSE 100
- RBC cuts Compass price target to 2,675 (2,775) pence - 'outperform'
- DZ Bank raises BT fair value to 250 (215) pence - 'buy'
- Oddo BHF raises International Consolidated Airlines Group price target to 6 (5.30) EUR - 'outperform'
- Oddo BHF raises easyJet price target to 540 (530) pence - 'neutral'
- Jefferies raises Schroders price target to 480 (420) pence - 'hold'
- JPMorgan reinitiates Rio Tinto with 'overweight' - price target 7,500 pence
- JPMorgan reinitiates Glencore with 'neutral' - price target 490 pence
- Berenberg cuts British Land price target to 531 (539) pence - 'buy'
- Goldman Sachs cuts Bunzl price target to 2,360 (2,470) pence - 'neutral'
- Goldman Sachs raises Marks & Spencer price target to 470 (450) pence - 'buy'
- Goldman Sachs cuts Shell price target to 37 (38) EUR - 'buy'
- Berenberg raises Anglo American price target to 4,200 (4,100) pence - 'buy'
- Deutsche Bank Research raises AstraZeneca price target to 11,500 (11,000) pence - 'sell'
- LBBW cuts GSK to 'hold' (buy) - price target 2,300 (1,850) pence
- DZ Bank raises face value for GSK to 2,200 (1,700) pence - 'hold'
-
FTSE 250
- Oddo BHF cuts Wizz Air to 'underperform' (neutral) - price target 1,300 (1,180) pence
- Berenberg raises International Workplace Group price target to 350 (270) pence - 'buy'
- Deutsche Bank Research raises Playtech price target to 395 (390) pence - 'buy'
- UBS raises Domino's Pizza Group price target to 200 (190) pence - 'neutral'
-
SMALL CAP
- Oddo BHF cuts Ryanair to 'neutral' (outperform) - price target 32.50 (30) EUR
- Related Shares:
LONDON MARKET OPEN: FTSE 100 falls as AI fears pressure data stocks
- London Stock Market:
- Opened lower on Friday due to renewed fears around AI investment and pressure on software/data stocks.
- FTSE 100 down 0.3% at 10,278.23, FTSE 250 down 0.5% at 22,994.36, AIM all-share down 0.7% at 797.39.
- Cboe UK indices also declined, with Cboe UK 100 down 0.2% and Cboe UK 250 down 0.6%.
- European Equities:
- CAC 40 in Paris down 0.5%, DAX 40 in Frankfurt down 0.2%.
- Currency Markets:
- Sterling up to USD1.3572, euro slightly higher at USD1.1795, dollar marginally lower against yen at JPY156.94.
- Big Tech Earnings & AI Investment:
- Amazon plans USD200 million in capital expenditures for 2026, above consensus, focusing on AI, chips, robotics, and satellites.
- Alphabet (Google) to spend USD175-185 billion in 2026.
- Market reaction negative due to concerns over massive AI investment plans.
- FTSE 100 Fallers:
- Relx down 4.0%, Sage Group down 3.8%, London Stock Exchange Group down 1.5% due to AI-related disruption fears.
- UK House Prices:
- Rose 0.7% in January, average price above GBP300,000 for the first time.
- Annual growth increased to 1.0%, with Halifax predicting 1-3% rise in 2026.
- Asian Markets:
- Nikkei 225 up 0.8%, Shanghai Composite down 0.2%, Hang Seng down 1.2%, S&P/ASX 200 down 2.0%.
- US Markets:
- Dow Jones, S&P 500, and Nasdaq Composite all ended lower on Thursday.
- Commodities:
- Gold slightly higher at USD4,860.40/ounce, Brent oil up to USD68.22/barrel.
- Corporate Updates:
- GSK shares down 0.9% after EU approval of Nucala for COPD.
- HgCapital Trust up 5.9% after positive NAV return estimates and share buyback program.
- Victrex shares down 4.6% despite maintaining annual guidance.
- Economic Calendar:
- Canadian jobs data pending, US January jobs report delayed to Wednesday.
LONDON MARKET EARLY CALL: FTSE 100 to fall amid US AI fears
- London Stocks: Set to open lower on Friday due to renewed fears over AI spending on Wall Street. FTSE 100 futures indicate a 0.5% decline to 10,261.82.
- Currency Movements: Sterling rose to USD1.3572, euro strengthened to USD1.1800, and the dollar weakened to JPY156.84 against the yen.
- Central Bank Decisions: Bank of England held rates at 3.75% (5-4 vote), with dovish forecasts pointing to a potential 25bps cut in March. ECB also kept rates unchanged.
- UK Politics: Prime Minister Keir Starmer under pressure over Peter Mandelson scandal, with calls for his chief of staff's dismissal or his own resignation.
- US Markets: Wall Street closed lower on Thursday (Dow -1.2%, S&P 500 -1.2%, Nasdaq -1.6%) amid AI spending concerns.
- Asian Markets: Mixed performance on Friday: Nikkei +0.8%, Shanghai Composite -0.1%, Hang Seng -1.2%, S&P/ASX 200 -2.0%.
- Amazon: CEO Andy Jassy announced $200 billion in capex for 2026, citing AI, chips, robotics, and satellites. Q4 net income rose to $21.19 billion, but earnings missed consensus.
- Alphabet: Plans to spend $175-$185 billion in 2026, adding to AI investment concerns.
- Commodities: Gold slightly up at $4,854.20/ounce, Brent oil higher at $68.31/barrel.
- Economic Calendar: Friday features Canadian jobs data, French trade figures, and the UK Halifax house price index report.
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