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LONDON MARKET CLOSE: FTSE 100 climbs on strong retail sales data
- Stock Market Performance:
- London stocks closed higher on Friday, with the FTSE 100 up 0.6% at 10,686.89, FTSE 250 up 0.8% at 23,751.56, and AIM all-share up 0.5% at 815.11.
- European equities also rose, with the CAC 40 up 1.4% and the DAX 40 up 0.9%.
- U.S. stocks were higher, with the S&P 500 up 0.4% and the Nasdaq Composite up 0.8%.
- Currency Movements:
- The pound rose to USD1.3492, the euro slightly higher at USD1.1780, and the dollar marginally up against the yen at JPY154.95.
- U.S. Supreme Court Ruling:
- The court ruled 6-3 that President Donald Trump's tariff program is illegal, stating the International Emergency Economic Powers Act does not authorize the president to impose tariffs.
- The ruling does not affect sector-specific tariffs on steel, aluminum, and other goods.
- Analysts suggest the ruling may not significantly impact markets, as Trump is expected to use alternative legal tools for trade restrictions.
- UK Economic Data:
- Positive retail sales (up 1.8% in January) and purchasing managers' index data (53.9 points in February) indicate economic activity is picking up.
- U.S. Economic Data:
- Q4 GDP growth slowed to 1.4% annualized, below expectations, but inflationary pressures increased in December.
- Corporate News:
- Diageo led the FTSE 100, up 3.9%, following reports of executive team changes under new CEO Dave Lewis.
- Segro closed up 2.0% despite a 12% decline in pretax profit for 2025.
- TBC Bank rose 7.0% on strong full-year results and a 10% dividend increase.
- Aston Martin Lagonda fell 1.4% after issuing a profit warning due to heightened U.S. tariffs.
- SkinBioTherapeutics rose 8.9% amid an independent investigation into the departure of its CEO.
- Commodities:
- Brent oil slightly lower at USD71.33 per barrel, while gold climbed to USD5,066.90 per ounce.
- Upcoming Events:
- Monday's global economic data includes U.S. factory orders and Germany's business climate reading.
- Corporate results expected from Mony Group, HSBC, Diageo, Rolls-Royce, and others later in the week.
LONDON MARKET MIDDAY: FTSE 100 stays up, UK PMI outperforms forecasts
- London Stock Market:
- Stock prices higher at midday on Friday due to stronger-than-expected activity growth in UK services and manufacturing sectors.
- Flash UK purchasing managers' composite output index rose to 22-month high of 53.9 points in February, beating market consensus.
- FTSE 100 up 0.6% at 10,695.21, FTSE 250 up 0.6% at 23,703.95, and AIM all-share up 0.4% at 814.37.
- Smiths Group rose 1.1% after selling Smiths Detection division to CVC Capital Partners for GBP2.0 billion.
- Chemring down 3.3% due to slower-than-anticipated start to the year, despite in-line financial outlook.
- Pulsar Helium lost 13% after raising GBP7.4 million through share placement.
- Tullow Oil down 3.6% with estimated 2025 revenue of USD847 million, down from USD1.54 billion in 2024.
- European Markets:
- CAC 40 in Paris down 0.7%, DAX 40 in Frankfurt up 0.2%.
- Germany's manufacturing activity re-entered growth territory, but companies cautious in personnel planning.
- Eurozone manufacturing activity beat expectations, while service activity growth was lower than anticipated.
- Economic Indicators:
- Pound higher at USD1.3470, euro lower at USD1.1760, dollar higher against yen at JPY155.24.
- US 10-year Treasury yield at 4.07%, 30-year Treasury yield at 4.70%.
- Brent oil lower at USD71.32 per barrel, gold higher at USD5,027.31 per ounce.
- Notable Statements:
- S&P Global's Chris Williamson noted ongoing job losses despite higher demand, suggesting calls for further rate cuts by the Bank of England.
- ECB President Christine Lagarde stated her intention to complete her term, denying reports of early departure.
- Upcoming Releases:
- US flash composite PMI, GDP, and personal consumption expenditures data expected later on Friday.
LONDON BROKER RATINGS: Shore raises Sage, UBS raises St James's Place
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- 20th Feb 2026 09:29
- The following London-listed shares received analyst recommendations Friday morning and on Thursday:
- FTSE 100
- Shore Capital raises Sage to 'buy' (hold) - price target 950 (1210) pence
- UBS raises St James's Place to 'buy' - cuts price target 1,465 (1,565) pence
- UBS cuts Mondi price target to 1,050 (1,080) pence - 'buy'
- UBS raises Glencore price target to 520 (485) pence - 'neutral'
- Deutsche Bank Research cuts Autotrader price target to 850 (1040) pence - 'buy'
- Deutsche Bank Research cuts Rightmove price target to 665 (732) pence - 'buy'
- Barclays raises GSK price target to 1,900 (1,780) pence - 'underweight'
- Bank of America raises Glencore price target to 560 (550) pence - 'buy'
- JPMorgan raises Glencore price target to 520 (510) pence - 'neutral'
- JPMorgan cuts Rio Tinto price target to 7,840 (8,010) pence - 'overweight'
- RBC cuts Rio Tinto price target to 5,900 (6,100) pence - 'sector perform'
- Bank of America raises BAE Systems price target to 2,330 (2,000) pence - 'buy'
- Oddo BHF raises BAE Systems price target to 2,150 (1,900) pence - 'underperform'
- FTSE 250
- Deutsche Bank cuts Baltic Classifieds price target to 278 (287) pence - 'buy'
- SMALL CAP
- JPMorgan cuts Bank of Ireland price target to 16.40 (16.60) EUR - 'underweight'
- Related Shares:
LONDON MARKET OPEN: Stocks up after "encouraging" retail figures
- London Stock Market:
- Stock prices opened higher on Friday, driven by strong retail sales growth and a record public sector surplus.
- FTSE 100 up 0.3% at 10,653.84, FTSE 250 up 0.2% at 23,621.63, and AIM all-share up 0.2% at 812.76.
- Burberry led the FTSE 100 with a 2.3% rise, while BP and Shell lagged, down 1.5% and 0.3%, respectively.
- Economic Data:
- Public sector recorded a £30.37 billion surplus in January, the highest since 1993, surpassing consensus estimates.
- Retail sales increased 1.8% month-on-month and 4.5% year-on-year, beating forecasts.
- Shore Capital's David Hughes noted encouraging consumer outlook but cautioned against over-optimism.
- Corporate News:
- Anglo American up 0.1% despite a 27% dividend cut; reported pretax profit of $883 million in 2025, up from a loss in 2024.
- Segro down 0.3% despite 7.6% revenue growth; pretax profit decreased, but adjusted profit rose 8.3%.
- Blackrock Smaller Cos and Blackrock Throgmorton rose 4.2% and 0.2%, respectively, after announcing a merger.
- Global Markets:
- European equities mixed: CAC 40 down 0.7%, DAX 40 marginally up.
- Germany's manufacturing PMI surged to a 44-month high of 50.7 in February.
- Asian markets lower: Nikkei 225 down 1.1%, Hang Seng down 1.0%, S&P/ASX 200 down 0.1%.
- US markets ended lower on Thursday: Dow Jones down 0.5%, S&P 500 and Nasdaq down 0.3% each.
- Commodities & Currencies:
- Brent oil down to $71.49 per barrel.
- Gold up to $5,020.79 per ounce.
- Pound down slightly to $1.3449, euro down to $1.1754, dollar up against yen to ¥155.39.
- Upcoming Events:
- UK and US flash purchasing managers' index releases scheduled for Friday.
All Market News Today 412 headlines
SPI
13:23
Spire Healthcare Group Plc
PCTN
13:21
Picton Property Income Ltd
BLND
13:20
British Land Company PLC
BRSC
06:01
Blackrock Smaller Companies Trust PLC
THRG
06:01
Throgmorton Trust Plc
