16th Feb 2026 07:46
(Alliance News) - The FTSE 100 was called higher on Monday, as Beazley extends its deadline for Zurich Insurance to make an acquisition offer.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called up 31.4 points, 0.3% at 10,477.75
GBP: higher at USD1.3639 (USD1.3626 at previous London equities close)
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BROKER RATINGS
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LBBW cuts Unilever to 'hold' (buy) - price target 5,500 pence
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Barclays cuts Magnum Ice Cream price target to 13.50 (14.70) EUR - 'equal weight'
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COMPANIES - FTSE 100
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NatWest has announced the start of its up to GBP750 million share buyback programme, which will end by January 15 next year. The Edinburgh-based lender, which announced the programme earlier this month, can repurchase up to 650.0 million shares. UBS' London branch will conduct the programme on NatWest's behalf.
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Beazley has extended the 'put up or shut up' deadline, from Monday to March 4, for Zurich Insurance Group to either announce a firm intention to make an offer for the London-based insurer, or to confirm that it will not make an offer. In early February, Beazley agreed to a "possible" offer that valued it at approximately GBP8.0 billion, with Zurich proposing 1,310 pence per share in cash before allowed dividends, and said it was "minded to accept" Zurich's offer were it to be made firm.
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COMPANIES - FTSE 250
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Plus500 is starting a new buyback programme on Monday to repurchase up to USD100.0 million in shares. The buyback forms part of the USD187.5 million of shareholder returns which Plus500 announced with its 2025 preliminary results, which also included USD87.5 million in total dividends. Plus500 is entitled to repurchase up to 3.8 million shares. "This significant share buyback programme is consistent with Plus500's disciplined capital allocation framework and reflects the group's robust financial position, cash generative business model and the board's ongoing confidence in the group's ability to deliver strong shareholder returns over the medium-term," the fintech company said. "As of [December 31], the group held approximately USD800 million of its own cash on its balance sheet, enabling it to pursue accretive organic and inorganic growth initiatives, while continuing to deliver attractive and sustainable shareholder returns."
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OTHER COMPANIES
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Pebble Beach Systems has won a new GBP1.3 million five-year contract with "a Tier 1, US-based streaming company", which it said has scope for significant further revenue. The Surrey, England-based software company said that the adoption of its video and audio delivery automation software solution marks an important step in the expansion of the client's playout capabilities.
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SkinBioTherapeutics, which has recently "been urgently conducting an investigation" amid the suspension and subsequent resignation of former chief executive Stuart Ashman over "matters relating to his conduct", said it now has reason to believe that Ashman misrepresented material information to the board, senior management, auditors and advisors. This "has cast significant doubt on the validity of the accrued royalty income" reported in its results for the year ended June 30, and the Newcastle Upon Tyne, England-based life science firm expects this to reduce its expected revenue for the year to GBP3.9 million from the previously reported GBP4.6 million. It "now anticipates that the results for the [current financial year] will be significantly below current market expectations."
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By Emma Curzon, Alliance News reporter
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Related Shares:
UnileverNatwestBeazleySkinbiotherap.Plus500The Pebble Gro.