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Morning Report - 2 February 2026

Yesterday’s UK 100 Leaders Price (p) % Chg
Lloyds Banking Group 109.0 3.3%
Smith & Nephew 1,242.0 2.4%
Experian 2,758.0 2.3%
Diageo 1,675.5 2.3%
International Consolidated Airlines Group 418.2 2.1%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
Airtel Africa 319.2 -6.6%
Endeavour Mining 4,222.0 -6.6%
Fresnillo 3,702.0 -5.1%
Antofagasta 3,648.0 -3.7%
Mondi 854.0 -2.7%

 

Major World Indices Price % Chg 1 Year
UK 100 INDEX 10,224 0.5% 18.2%
DOW JONES INDUS. AVG 48,892 -0.4% 8.9%
DAX INDEX 24,539 0.9% 12.9%
NIKKEI 225 53,323 0.1% 34.8%
S&P/ASX 200 INDEX 8,869 -0.7% 4.0%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 65.84 0.63%
Brent Crude (ICE) USD/bbl. 70.69 -0.03%
Gold Spot USD/t oz. 4,873 -9.3%
Copper (Comex) USd/lb. 594 -4.4%

 

The UK 100 is called to open -73 at 10,146.

4 Hours; 2 Months

Click graph to enlarge

Markets Overview:


The UK 100 is called to open -73 at 10,146.  
European markets are set to open lower, with the UK 100 futures pointing sharply down, as global risk-off sentiment and collapsing commodity prices overshadow otherwise resilient regional data.  On Friday, the UK 100 closed higher, extending its longest monthly winning streak in over a decade, supported by banking stocks and a weaker pound. That support has faded this morning as precious-metal miners come under renewed pressure following the collapse in gold and silver prices.

Stocks retreated on Friday as technology shares remained in a funk, even as investors largely approved of President Donald Trump’s pick of Kevin Warsh to lead the Federal Reserve. Still, the S&P squeaked out a January gain, despite Friday’s losses and volatile trading this month.  The broad index fell 0.43% to finish at 6,939.03, its third straight down day. The Dow Jones pulled back 179 points, or 0.36%, to settle at 48,892.47. The tech-heavy Nasdaq underperformed, dropping 0.94%, to end the day at 23,461.82. All three indexes fell more than 1% at session lows.

Risk aversion intensified across Asia, tracking Wall Street weakness and renewed scepticism around AI valuations. South Korea led losses, with sharp declines in heavyweight chipmakers weighing heavily on the KOSPI. Hong Kong technology shares also fell sharply, while mainland Chinese equities retreated amid mixed PMI signals.  China’s official manufacturing PMI remained in contraction, highlighting weak domestic demand, though a firmer private PMI offered limited reassurance for export-oriented sectors. Warsh’s nomination continued to loom large, reinforcing concerns around global liquidity conditions.

Company News & Broker Comments:

 

Company News:

Reckitt Benckiser’s share consolidation becomes effective today. Also completed second tranche of £1bn share buyback.

Reporting Today:

 

UK

 

None

US

 

The Walt Disney Co (NYSE:DIS) PMO

Palantir Tech Inc (NASDAQ:PLTR) PMO

Reporting Tomorrow:

 

UK

 

None

US

 

The Walt Disney Co (NYSE:DIS) PMO

Palantir Tech Inc (NASDAQ:PLTR) PMO

 

In Focus Today:

 

Amgen Inc (NASDAQ:AMGN) PMO

Ball Corp (NYSE:BALL) PMO

Merck & Co Inc (NYSE:MRK) PMO

PayPal Holdings Inc (NASDAQ:PYPL) PMO

PepsiCo Inc (NASDAQ:PEP) PMO

Pfizer Inc (NYSE:PFE) PMO

Willis Towers Watson (NASDAQ:WTW) PMO

Advanced Micro Devices Inc (NASDAQ:AMD) AMC

Mondelez Intl Inc (NASDAQ:MDLZ) AMC

Take-Two Interactive Software Inc (NASDAQ:TTWO) AMC

This Week’s Ex-Dividends:

 

 

UK 100 companies going ex-dividend on 5th February 2026:

None

UK 250 companies going ex-dividend on 5th February 2026:

Avon Technologies

Paragon Banking Group

 

 

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