London open: FTSE edges up but quiet session expected amid US holiday
By Michele Maatouk
Date: Monday 16 Feb 2026
(Sharecast News) - London stocks edged higher in early trade on Monday at the start of what was set to be a fairly quiet session, with US markets due to be closed for Washington's Birthday.
At 0825 GMT, the FTSE 100 was up 0.2% at 10,464.31.
Monday marked a relatively subdued start to what will be a busy week, with earnings due from miners Rio Tinto, BHP, Antofagasta, Glencore and Anglo American, while UK jobs data, inflation and retail sales figures will also be eyed.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said sentiment was steadying following last week's sharp AI‑driven swings.
"It's another big week for UK investors, led by miners, with Rio Tinto expected to report a strong finish to the year after record production across iron ore, copper and lithium. Cash flow may look lighter thanks to heavy investment, but firmer commodity prices and a clearer path into 2026 should keep the focus on what comes next rather than what's gone," he said
"Anglo American's results should look more mixed, with better iron ore offset by weaker copper and a sharply reduced dividend putting the outlook under the microscope. Shifting to the defence space, BAE Systems reports with strong momentum, a bulging order book and high hopes that rising global defence spending can keep growth ticking over into 2026."
Britzman said the closure of US markets on Monday "may be a welcome relief to many, after last week was once again dominated by violent swings linked to AI".
On home shores, figures released earlier by Rightmove showed that house price growth stalled in February after the strongest increase in over a decade the previous month, though the outlook for demand still remains bright as affordability continues to improve.
The average price of a newly listed home for sale was £368,019 in February, down £12 over the month (-0.0%) following a 2.8% surge in January.
The previous month's jump was the largest-ever increase for a January and the strongest monthly rise since June 2015, as confidence rebounded after taking a hit due to the Autumn Budget.
However, high choice of homes for sale and steadying buyer activity have kept a lid on prices this month.
Nevertheless, asking prices have still seen their strongest start to the year since 2020, even after accounting for January's standstill.
"There are still lots of homes for sale, and buying activity isn't as strong as this time last year, when many buyers were rushing to move before the stamp duty increase in England," said Rightmove's property expert Colleen Babcock.
"So in February, sellers have taken a more cautious approach by holding onto January's gains rather than pushing prices higher, at a time when competition is high and the market is still very price-sensitive."
In equity markets, NatWest was the top riser on the FTSE 100, having slumped on Friday despite reporting a better-than-expected increase in full-year profits and lifting performance targets. Banks in general were firmer, with Barclays, Standard Chartered and Lloyds also up.
Defence firms Babcock, BAE Systems, Rolls-Royce and Qinetiq gained following a report that Downing Street is considering making a significant increase in defence spending. According to the BBC, the government is mulling over the idea of meeting an existing spending target earlier than planned at a potential cost of billions of pounds.
Elsewhere, Beazley nudged up after it said the deadline for Zurich Insurance to make a firm takeover bid has been extended. The Lloyd's of London insurer announced earlier this month that the two parties had reached an agreement in principle on the terms of an £8bn takeover by Zurich.
It said on Monday that Zurich has begun a period of confirmatory due diligence and, with the support of the board and management of Beazley, that process is progressing as planned. "The parties are simultaneously discussing the detailed terms of the transaction and progressing definitive transaction documentation," it said.
Zurich initially had until today to make a firm offer or walk away, but the 'put up or shut up' deadline has now been extended to 1700 GMT on 4 March.
Pinewood Technologies tanked after private equity firm Apax Partners withdrew its £575m offer for the automotive service provider on Friday, citing prevailing challenging market conditions.
Pinewood said it was still confident in its long-term prospects and that it was well-positioned to continue executing its strategy and to achieve medium-term 2028 guidance of underlying EBITDA of £58m to £62m.
Market Movers
FTSE 100 (UKX) 10,464.31 0.17%
FTSE 250 (MCX) 23,450.53 0.10%
techMARK (TASX) 6,070.05 0.13%
FTSE 100 - Risers
NATWEST GROUP (NWG) 602.00p 3.76%
Standard Chartered (STAN) 1,761.00p 2.47%
Barclays (BARC) 464.25p 2.26%
Prudential (PRU) 1,090.50p 2.01%
HSBC Holdings (HSBA) 1,263.00p 1.97%
Babcock International Group (BAB) 1,324.00p 1.92%
Autotrader Group (AUTO) 467.10p 1.74%
Lloyds Banking Group (LLOY) 101.80p 1.39%
Whitbread (WTB) 2,723.00p 1.30%
M&G (MNG) 314.50p 1.16%
FTSE 100 - Fallers
Barratt Redrow (BTRW) 378.70p -2.62%
Rio Tinto (RIO) 7,068.00p -1.66%
Glencore (GLEN) 487.60p -1.40%
Croda International (CRDA) 3,016.00p -1.31%
National Grid (NG.) 1,348.50p -1.28%
Fresnillo (FRES) 3,810.00p -1.24%
Coca-Cola Europacific Partners (DI) (CCEP) 7,230.00p -1.23%
Haleon (HLN) 404.80p -1.08%
SSE (SSE) 2,613.00p -1.06%
Coca-Cola HBC AG (CDI) (CCH) 4,656.00p -1.02%
FTSE 250 - Risers
Hilton Food Group (HFG) 541.00p 4.44%
Watches of Switzerland Group (WOSG) 500.00p 4.04%
Kainos Group (KNOS) 729.50p 2.46%
Close Brothers Group (CBG) 503.50p 2.42%
Vesuvius (VSVS) 486.40p 2.23%
THG (THG) 35.76p 2.05%
Bytes Technology Group (BYIT) 303.00p 1.81%
Wizz Air Holdings (WIZZ) 1,394.00p 1.75%
Plus500 Ltd (DI) (PLUS) 4,760.00p 1.67%
Carnival (CCL) 2,375.00p 1.54%
FTSE 250 - Fallers
Baltic Classifieds Group (BCG) 178.00p -3.05%
CMC Markets (CMCX) 315.00p -2.93%
Inchcape (INCH) 820.50p -2.44%
Hays (HAS) 45.82p -2.05%
4Imprint Group (FOUR) 3,770.00p -1.82%
Marshalls (MSLH) 174.80p -1.80%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 460.50p -1.60%
Bellway (BWY) 2,824.00p -1.53%
Pan African Resources (PAF) 143.20p -1.51%
Frasers Group (FRAS) 689.50p -1.50%
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