17th Feb 2026 07:57
(Alliance News) - Stocks were called lower on Tuesday, while the Office for National Statistics reported that UK unemployment came in higher than expected for the latest quarter.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called down 17.3 points, 0.2% at 10,456.39
GBP: lower at USD1.3613 (USD1.3629 at previous London equities close)
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ECONOMICS
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UK unemployment came in higher than expected for the latest quarter, the Office for National Statistics reported. The ILO unemployment rate came in at 5.2% for the three months ended December, up from 5.1% in the three months ended November, and above FXStreet-cited consensus, which forecast another 5.1% reading. The ONS estimated that the number of payrolled employees in the UK fell by 121,000 or 0.4% between December 2024 and December 2025, and decreased by 6,000 or 0.0% between November 2025 and December 2025. Further, giving an early estimate, the ONS estimates that the number of payrolled employees in the UK fell by 134,000 or 0.4% between January 2025 and January 2026, and decreased by 11,000 or 0.0% between December 2025 and January 2026. For the last three months of 2025, the number of payrolled employees fell by 130,000 or 0.4% on-year, and by 46,000 or 0.2% compared with the prior quarter. Average earnings, including bonuses, increased 4.2% in the three months ended December, slowing from 4.6% in the three months ended November, and missing the 4.6% consensus estimate. Excluding bonuses, earnings growth slowed to 4.2% from 4.4%, but remained in line with consensus.
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BROKER RATINGS
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Morgan Stanley raises Schroders to 'equal-weight' - price target 612 pence
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UBS raises SSP to 'buy' - price target 245 pence
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Barclays raises Glanbia price target to 18 (17) EUR - 'overweight'
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COMPANIES - FTSE 100
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Antofagasta reports that pretax profit climbed 53% to USD3.16 billion in 2025, from USD2.07 billion in 2024. Revenue increased 30% to USD8.62 billion from USD6.61 billion. Earnings before interest, tax, depreciation and amortisation increase 52% to a "record" USD5.20 billion from USD3.43 billion. Antofagasta also more than doubled its total dividend to 64.6 US cents from 31.4 cents. The final dividend increased to 48.0 cents from 23.5 cents. Copper production decreased to 653,700 tonnes and Antofagasta expects between 650,000 and 700,000 tonnes in 2026. The company highlights that its average realised copper price rose 18% to USD4.93 per pound in 2025 from USD4.18 in 2024. "Copper's fundamental value continues to be demonstrated through sustained demand growth, driven by the global structural trends of energy security and electrification, which saw copper achieve record prices in 2025," Chief Executive Ivan Arriagada commented.
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Coca-Cola Europacific announces that it will start an up to EUR1 billion share buyback on Wednesday, to be operated by Goldman Sachs. It also declares a EUR2.04 per share dividend for 2025, up 3.6% on-year. Post-tax profit rises 37% to EUR1.98 billion, and revenue grows 2.3% to EUR20.90 billion. The company expects 3% to 4% revenue growth and 7% operating profit growth in 2026. "We remain resilient in vibrant categories even though the consumer environment remains challenging," said CEO Damian Gammell. "We're investing more than ever in growth and greater productivity to drive expanding operating margins."
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InterContinental Hotels's revenue increases 7% to USD2.47 billion in 2025 from USD2.31 billion in 2024. Pretax profit climbs to USD1.07 billion from USD897 billion. The company's total dividend for the year increases 10% to 184.5 US cents from 167.6 cents. "Supported by attractive long-term industry demand drivers and our proven ability to capitalise on our scale and diverse fee streams across segments and geographies, we enter 2026 with confidence," CEO Elie Maalouf comments. Further, the company announces that it will start a share buyback programme with an aggregate value of up to USD950 million.
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COMPANIES - FTSE 250
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The three top executives of Plus500 have sold 1.5 million existing shares at GBP44.78 per share, worth GBP66.7 million, to Goldman Sachs International. The shares represent a 2.1% stake in Plus500. The sale, first announced after the London close on Monday, is intermediated by broker Panmure Liberum. Goldman Sachs may or may not onward sell the shares, Plus500 says. Following the sale, the trio consisting of Chief Executive Officer David Zruia, Chief Financial Officer Elad Even-Chen and Chief Marketing Officer Nir Zats continue to hold a combined 3.9% stake and have agreed not to sell any further shares for another year. On Monday, Plus500 started a new share buyback programme worth up to USD100 million, also run by Panmure Liberum.
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Sirius Real Estate raises GBP77 million from the sale of 75.5 million new shares at 102.0 pence each via an accelerated bookbuild. The new shares represent about 5% of the issued share capital before the capital raise. The London and Johannesburg-listed property investor says it plans to use the proceeds to make two acquisitions in Germany. Sirius says it believes the real estate market dynamics in Germany provide a sound backdrop to pursue its organic and acquisitions-led growth strategy over the medium-term.
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OTHER COMPANIES
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Kerry Group reports revenue of EUR6.76 billion for 2025, down from EUR6.93 billion the year before. Pretax profit decreases to EUR758.7 million from EUR778.4 million. The final dividend proposed for the year is 98 euro cents, up from 89 cents. Kerry says demand was "soft" in 2025 but that it remains "well positioned" for growth. Secondly, the company has launched a buyback programme worth up to EUR300 million, which it said will end by December 31. Finally, Chair Tom Moran is stepping down with effect from April 30, and the company has appointed Fiona Dawson as chair designate from the same date.
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By Emma Curzon, Alliance News reporter
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Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
SchrodersSSP GroupGlanbiaAntofagastaCoca-cola Euro.InterContinental HotelsPlus500Sirius Real Estate