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LONDON MARKET CLOSE: Europe ends mixed amid New York tech slump
- London Stock Market:
- FTSE 100 closed down 69.67 points (0.7%) at 10,402.44.
- FTSE 250 ended down 111.55 points (0.5%) at 23,304.99.
- AIM all-share closed down 4.13 points (0.5%) at 811.16.
- Cboe UK indices also closed lower, with the Cboe UK 100 down 0.9%.
- US Markets:
- Dow Jones down 0.8%, S&P 500 lost 1.1%, Nasdaq shed 1.6%.
- US 10-year Treasury yield narrowed to 4.12%, 30-year to 4.76%.
- US unemployment claims declined by 5,000 to 227,000, slightly above consensus.
- Economic Focus:
- Attention shifts to US inflation data release on Friday.
- UK GDP grew modestly by 0.1% in Q4 2025, below expectations.
- UK economy grew 1.3% in 2025, below OBR's 1.5% forecast.
- Currency Movements:
- Pound quoted at USD1.3628, euro at USD1.1869, dollar down sharply against yen at JPY152.56.
- European Equities:
- CAC 40 in Paris up 0.3%, DAX 40 in Frankfurt closed flat.
- FTSE 100 Highlights:
- Schroders jumped 30% on Nuveen takeover deal, valued at GBP9.9 billion.
- Admiral rose 3.4% on acquisition of Flock for GBP80 million.
- Biggest fallers: Prudential, Rentokil, Standard Chartered, Fresnillo, Endeavour.
- AIM Highlights:
- Sancus Lending surged 11% on credit facility extension.
- TPXimpact jumped 16% on GBP39 million contract with DEFRA.
- Commodities:
- Brent oil down to USD68.08/barrel, gold lower at USD4,932.33/ounce.
- Shell and BP fell 0.9% and 1.0%, respectively, due to oil price decline.
- Upcoming Events:
- US consumer price index reading on Friday.
- NatWest full-year results on Friday's UK corporate calendar.
LONDON MARKET MIDDAY: FTSE 100 edges up as Schroders surges post bid
- FTSE 100 Hits Record High: The FTSE 100 index rose 0.1% to 10,481.66, reaching a new record high, driven by a broad equities rally and a blockbuster offer to acquire Schroders.
- Schroders Surges 29%: Schroders shares jumped 29% after agreeing to an all-cash takeover by Pantheon LLC, valuing the company at up to GBP9.9 billion, a 34% premium to the previous closing price.
- European Equities Rally: The CAC 40 in Paris and DAX 40 in Frankfurt rose 0.7% and 1.3%, respectively, buoyed by Germany and France's unity in efforts to revive Europe's economy.
- UK GDP Growth: The UK economy grew 0.1% in Q4 2025 and 1.3% for the full year, up from 1.1% in 2024, according to the Office for National Statistics.
- Relx Edges Up: Relx shares rose 0.1% after reporting higher revenue and profit in 2025, raising its dividend by 7%, and reassuring investors about AI opportunities.
- Funding Circle Gains 3.2%: Funding Circle rose 3.2% after securing a GBP700 million forward flow commitment and a GBP120 million loan portfolio acquisition by Waterfall Asset Management.
- Priority Intelligence Climbs 7.7%: The company launched an AI-powered voice agent, Vox, and secured a contract with Property Buying Company, expecting 10,000 outbound sales calls in the first month.
- New Frontier Minerals Falls 9.1%: The company entered an agreement to acquire up to 90% interest in the Pomme rare earth and niobium project in Quebec, with upfront payments and milestone commitments.
- US Stocks Higher: The Dow Jones, S&P 500, and Nasdaq Composite were all up 0.3% ahead of US jobless claims and existing home sales data.
- Commodities Update: Brent oil fell to USD69.15 per barrel, while gold rose to USD5,067.70 per ounce.
- Irish Industrial Production Falls: Irish industrial production dropped 1.7% in Q4 2025, though output was 7.2% higher year-on-year, with manufacturing turnover declining 9.6% on-quarter.
LONDON BROKER RATINGS: Exane BNP and HSBC cut BP; JPM likes Barclays
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- 12th Feb 2026 09:46
- The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:
- FTSE 100
- Exane BNP cuts BP to 'neutral' (outperform) - price target 465 pence
- HSBC cuts BP to 'reduce' - price target 430 pence
- UBS cuts BP price target to 455 (465) pence - 'neutral'
- Goldman Sachs raises AstraZeneca price target to 16,496 (16,389) pence - 'buy'
- LBBW raises AstraZeneca price target to 16,000 (14,000) pence - 'buy'
- JPMorgan raises Barclays price target to 590 (570) pence - 'overweight'
- JPMorgan cuts NatWest price target to 730 (750) pence - 'overweight'
- RBC cuts Barratt Redrow price target to 425 (450) pence - 'sector perform'
- FTSE 250
- Panmure Liberum raises Ashmore Group price target to 350 (240) pence - 'buy'
- JPMorgan reinitiates Unite Group with 'overweight' - price target 725 pence
- Jefferies cuts HgCapital Trust to 'underperform' (hold)
- SMALL CAP
- Goldman Sachs cuts Flutter Entertainment price target to 19,700 (22,300) pence - 'buy'
- JPMorgan raises Smurfit Westrock target to 5,000 (4,300) pence - 'overweight'
- RBC cuts MJ Gleeson price target to 375 (400) pence - 'underperform'
- Related Shares:
LONDON MARKET OPEN: FTSE 100 hits record as Schroders soars
- London Stock Market:
- FTSE 100 opened higher, touching a new record, up 0.4% at 10,516.57.
- FTSE 250 and AIM all-share also rose by 0.2% and 0.3%, respectively.
- Cboe UK indices showed similar gains, with the Cboe UK 100 up 0.4%.
- UK GDP Growth:
- Fourth-quarter GDP grew by 0.1%, below the 0.2% consensus forecast.
- Annual growth for 2025 was 1.3%, up from 1.1% in 2024 but below the 1.5% OBR forecast.
- Industrial production and manufacturing output declined in December.
- Goods trade deficit widened to GBP22.72 billion in December.
- Schroders Takeover:
- Schroders surged 29% after agreeing to a GBP9.9 billion all-cash takeover by Pantheon LLC (Nuveen subsidiary).
- Shareholders to receive 612p per share, a 34% premium to Wednesday's close.
- Transaction expected to complete in Q4 2026, subject to regulatory approvals.
- Schroders reported 2025 results with 6% growth in assets under management and 25% rise in adjusted operating profit.
- Corporate Updates:
- Unilever fell 2.0% despite higher pretax profit, due to turnover decline and currency headwinds.
- Magnum Ice Cream (spun off from Unilever) reported lower profit, with shares down 14%.
- British American Tobacco edged down 1.0% despite higher profit, with revenue and earnings growth guidance at the lower end of targets.
- Morgan Sindall topped FTSE 250, up 6.0%, after strong 2025 performance and optimistic 2026 guidance.
- Greencore fell 5.1%, while THG rose 0.7% after a licensing partnership with Greencore for Myprotein products.
- Global Markets:
- European equities rose, with CAC 40 up 1.0% and DAX 40 up 0.9%, as EU leaders discussed competitiveness.
- Asian markets mixed: Nikkei 225 marginally lower, Shanghai Composite up 0.1%, Hang Seng down 0.7%, and S&P/ASX 200 up 0.3%.
- US markets closed slightly lower on Wednesday, with the Dow Jones down 0.1% and Nasdaq down 0.2%.
- Commodities:
- Brent oil slightly lower at USD69.71 per barrel.
- Gold rose to USD5,067.10 per ounce.
- Upcoming Economic Data:
- Ireland industrial production, US weekly jobless claims, Germany's current account, and US existing home sales.
LONDON MARKET EARLY CALL: FTSE 100 seen up ahead of UK GDP data
- London Stocks: Set to open higher on Thursday, with FTSE 100 futures indicating a 0.4% rise to 10,513.01, ahead of key UK economic data releases.
- UK Economic Data (0700 GMT):
- GDP expected to rise 0.1% MoM in December (down from 0.3% in November).
- Industrial production forecast at 0.0% MoM growth (vs. 1.1% in November).
- Goods trade balance predicted to show a £22.7 billion deficit in December.
- UK Housing Market: Continued downward pressure on house prices, with the RICS net balance at -10% in January (vs. -14% in December), slightly better than the -11% forecast.
- Currency Markets:
- Sterling at $1.3606 (down from $1.3640 on Wednesday).
- Euro at $1.1854 (down from $1.1861).
- Dollar at ¥153.50 (down from ¥154.23).
- US Markets: Wall Street closed lower on Wednesday, with the Dow down 0.1%, S&P 500 marginally lower, and Nasdaq down 0.2%.
- US Economic Data: Nonfarm payrolls rose by 130,000 in January (vs. 70,000 forecast), with December's figure revised down to 50,000.
- US Politics:
- House lawmakers rejected Trump's tariffs on Canadian goods in a 219-211 vote.
- Trump ordered the Pentagon to purchase electricity from coal-fired plants, citing national security.
- Asian Markets:
- Nikkei 225 marginally higher as Japan's producer prices rose 0.2% MoM in January.
- Shanghai Composite slightly up, Hang Seng down 1.0%, and S&P/ASX 200 up 0.3%.
- Commodities:
- Gold at $5,049.60/ounce (down from $5,055.15).
- Brent oil at $69.35/barrel (down from $69.82), pressured despite US vows to increase Venezuela's oil output.
- Corporate Calendar: Ashmore Group reports H1 results, while BAT, Relx, Schroders, and Unilever publish full-year results.
- Economic Calendar: UK GDP, trade balance, industrial production, Ireland industrial production, US jobless claims, Germany current account, and US existing home sales.
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