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| Yesterday’s UK 100 Leaders | Price (p) | % Chg |
| HSBC Holdings | 1,394.0 | 7.9% |
| Metlen Energy & Metals | 37.7 | 7.7% |
| Fresnillo | 4,326.0 | 7.3% |
| St James’s Place | 1,343.0 | 6.6% |
| RELX | 2,415.0 | 6.3% |
| Yesterday’s UK 100 Laggards | Price (p) | % Chg |
| Diageo | 1,636.0 | -12.7% |
| Haleon | 377.9 | -6.9% |
| Croda International | 3,113.0 | -3.1% |
| Babcock International Group | 1,374.0 | -2.1% |
| Tesco | 492.2 | -1.8% |
| Major World Indices | Price | % Chg | 1 Year |
| UK 100 INDEX | 10,806 | 1.2% | 24.7% |
| DOW JONES INDUS. AVG | 49,482 | 0.6% | 13.4% |
| DAX INDEX | 25,176 | 0.8% | 12.3% |
| NIKKEI 225 | 58,583 | 2.2% | 53.6% |
| S&P/ASX 200 INDEX | 9,128 | 1.2% | 10.8% |
| Commodity | Units | Price | % Chg |
| WTI Crude Oil (Nymex) | USD/bbl. | 65.42 | -0.32% |
| Brent Crude (ICE) | USD/bbl. | 70.97 | 0.28% |
| Gold Spot | USD/t oz. | 5,165 | 0.4% |
| Copper (Comex) | USd/lb. | 605 | 0.9% |
Click graph to enlarge
The UK 100 is called to open flat at 10,806. Yesterday was another record-breaking day for the FTSE 100, which added 125 points to close at 10,806, the UK’s bluechip index looks set to consolidated these gains at the open today.
U.S. equities rose on Wednesday, supported by Nvidia and Oracle, as stocks built on the gains from the prior trading day. The S&P added 0.81% and closed at 6,946.13, and the Nasdaq advanced 1.26% to 23,152.08. The Dow Jones increased 307.65 points, or 0.63%, and settled at 49,482.15.
Asian equities traded mixed with regional divergence. South Korea’s KOSPI hit record highs on strength in memory-chip suppliers tied to AI demand, while Hong Kong lagged on technology weakness and China steadied after recent gains. Japanese indices reached fresh highs as rate-hike expectations cooled, though chipmakers saw profit-taking after Nvidia.
Hikma Pharmaceuticals reported 2025 core revenue up 6% to $3.35 billion and core operating profit up 3% to $741 million, driven by double-digit growth in its Branded unit and solid performance in injectables and Hikma Rx across North America, MENA and Europe. Despite a drop in reported operating profit due to legal settlements and some margin pressure in Injectables, the group maintained a robust balance sheet, raised its dividend 5% and launched 84 products including its first US biosimilar. The company announced a $250 million share buyback for 2026 and outlined modest group revenue and profit growth targets, while withdrawing previous medium-term guidance following a strategic review of its Injectables business. A sweeping leadership reshuffle will see Executive Chairman Said Darwazah focus solely on the CEO role, a new chair appointed, regional deputy CEOs created and an acting CFO installed, signalling a push for greater agility and accountability as Hikma seeks to strengthen long-term performance and capitalise on biosimilar and specialty injectables opportunities.
London Stock Exchange Group has launched a share buyback programme of up to £750 million of its ordinary shares, following the release of its preliminary 2025 results. The move underscores the group’s confidence in its financial position and strategy while aiming to enhance shareholder returns by reducing the company’s share capital. Under the programme, Morgan Stanley & Co. International will act as riskless principal, independently executing share purchases within preset parameters until no later than 29 May 2026. Shares bought on the London Stock Exchange and Turquoise will be on-sold to the company and cancelled, with transactions conducted under existing shareholder authorities and UK market abuse and listing regulations.
Nvidia, the world’s largest company by market capitalization, reported fourth quarter results after the closing bell on Wednesday in a highly anticipated release amid growing concerns about how big bets on AI will pay off. Nvidia’s results and guidance that beat estimates suggested that AI demand continues to grow, a powerful signal for the dozens of other tech and software stocks caught in Nvidia’s web of influence
Ocado, the British technology and online grocery group, said on Thursday it would hit the key milestone of becoming cash flow positive in the second half of 2026, helped by a focus on cutting costs. London-listed Ocado, which provides automated technology for distribution centres and runs its own UK online grocery business through a joint venture with Marks & Spencer, also reported a 59% jump in underlying earnings for its 2024/25 year. Ocado’s shares have tumbled 27% over the last year after both of its North American partners – Kroger in the U.S. and Sobeys in Canada – said they would close robotic customer fulfilment centres (CFSs), blaming weaker-than-expected demand. The decisions raised fresh questions about the viability of Ocado’s business model, particularly for partners who have customers away from dense urban locations. Ocado says the expiry of exclusivity agreements in most of its overseas markets, including the U.S., frees it to pursue new partners. However, analysts are sceptical that Ocado can win new deals given its struggles with existing partners and because many retailers are focusing on fulfilling online orders from stores. The group forecast it would turn cash flow positive during the second half of its 2025/26 year with full-year underlying cash outflow excluding closure fees of about 200 million pounds ($271 million). It said that objective will be helped by a £150m reduction in technology and support costs. Ocado forecast it would be full year cash flow positive in 2026/27. For its year to November 30 2025, Ocado made underlying earnings of £178m for its 2024/25 year, on revenue up 12.1% to £1.36b.
Rolls-Royce today unveiled upgraded medium-term targets, alongside plans for its first ever multi-year share buyback programme. The engines maker posted an underlying operating profit of £3.5 billion for 2025, up from £2.5 billion in 2024 after the operating margin improved to 17.3% from 13.8%. Expectations for 2026 mean it is on track for an underlying operating profit within the company’s previous mid-term guidance range two years earlier than planned. The upgraded mid-term targets include underlying operating profit of between £4.9 billion and £5.2 billion and free cash flow in the region of £5 billion-£5.3 billion. Chief executive Tufan Erginbilgic said: “Beyond the mid-term we continue to see significant growth from existing businesses as well as from new business opportunities.” Rolls announced a dividend of 5p a share, taking the total dividend for 2025 to 9.5p. It also unveiled its first multi-year buyback programme, totalling £7 billion-£9 billion across the three years up to 2028 and including £2.5 billion this year.
WPP will combine its agencies into a single company underpinned by AI and data, with four units including a new “WPP Creative”, under Chief Executive Cindy Rose’s strategy to turn around the ad group after operating profit fell 23%. The group will bring its Ogilvy, VML and AKQA creative agencies under the WPP Creative umbrella in the plan, which aims to achieve a return to organic growth during 2027.
UK
Ocado Group (OCDO) – Full Year Results
Drax Group (DRX) – Full Year Results
Rolls-Royce Holdings (RR) – Full Year Results
LSE Group (LSEG) – Full Year Results
Howden Joinery (HWDN) – Full Year Results
Hikma Pharmaceuticals (HIK) – Full Year Results
WPP (WPP) – Full Year Results
Flutter Entertainment (FLTR) – Full Year Results
US
Baidu Inc (NASDAQ:BIDU) PMO
Viatris Inc (NASDAQ:VTRS) PMO
Block Inc (NYSE:XYZ) AMC
Rocket Lab Corp (NASDAQ:RKLB) AMC
Intuit Inc (NASDAQ:INTU) AMC
UK
International Consolidated Airlines Group (British Airways) (IAG) – Full Year Results
Rightmove (RMV) – Full Year Results
Melrose Industries (MRO) – Full Year Results
US
Berkshire Hathaway Inc Class B (NYSE:BRK.B) AMC
Diversified Energy Co (NYSE:DEC) AMC
ECB’s President Lagarde speech
EU Business Climate
EU Consumer Confidence
EU Economic Sentiment Indicator
BoE’s Lombardelli speech
US Initial Jobless Claims
Fed’s Bowman speech
UK 100 companies going ex-dividend on 26th February 2026:
Alliance Witan
Unilever
UK 250 companies going ex-dividend on 26th February 2026:
Ashmore Group
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