19th Feb 2026 08:01
(Alliance News) - London stocks opened a notch lower on Thursday, while in mining Rio Tinto maintains its full-year dividend as profit declines in 2025 despite higher revenue.
"A few 'bits & bobs' on today's economic calendar, though in truth none of it is likely to impact the price action too much," Pepperstone's Michael Brown comments. "US figures highlight the slate, not only with the weekly jobless claims figures, but also with this month's Philly Fed manufacturing survey, and last month's pending home sales report due as well."
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: opened 0.1% lower at 10,674.33
GBP: lower at USD1.3504 (USD1.3548 at previous London equities close)
----------
BROKER RATINGS
----------
UBS cuts Schroders to 'neutral' - price target 590 pence
----------
JPMorgan raises BHP price target to 2,650 (2,600) pence - 'neutral'
----------
COMPANIES - FTSE 100
----------
Rio Tinto says profit declined in 2025 despite higher revenue, as rising operating and finance costs weighed on performance. The London and Melbourne, Australia-based diversified miner says pretax profit fell 6.7% to USD14.57 billion in the year ended December 31 from USD15.62 billion in the previous year. Diluted earnings per share declined 14% to 608.4 US cents from 707.2 cents. The company lifts its final dividend for the year by 13% to 254 cents per share from 225 cents, leaving full-year dividend unchanged at 402 cents per share. Rio makes no change to its production and sales guidance issued on December 4.
----------
British Gas owner Centrica reports 2025 results. Increases full-year dividend to 5.5p from 4.5p in 2024, as ups the final dividend to 3.67p from 3.0p. Revenue decreases 2.1% to GBP19.49 billion from GBP19.91 billion. The average achieved gas price at Spirit Energy falls 19% to 107 pence in 2025 from 132p in 2024. Pretax profit falls to GBP112 million from GBP1.68 billion, and gross profit falls to GBP2.83 billion from GBP4.09 billion. Swings to attributable loss of GBP72 million from a GBP1.33 billion profit, and to a diluted loss per share of 1.5p from EPS of 25.1p. "The environment has been challenging, and performance has varied across the business. However, we have remained disciplined, delivering strong operational performance...With major projects like Sizewell C, Grain LNG and our Meter Asset Provider laying the groundwork for more stable and predictable earnings, our long-term opportunities have never been better," Chief Executive Chris O'Shea comments.
----------
Mondi on Thursday slashes its dividend as the packaging firm continues to grapple with "prolonged cyclical downturn" facing the industry. The Weybridge, England-based packaging firm chops its final dividend to 4.92 euro cents in 2025, down sharply from 46.67 cents in 2024, reducing the total payout for 2025 to 28.25 cents from 70 cents. Analysts had warned that a dividend cut was priced in already. For 2025, Mondi reports a 29% slump in pretax profit to EUR269 million from EUR378 million in 2024. But revenue was EUR7.66 billion, up 3.2% from EUR7.42 billion. Underlying earnings before interest, taxes, depreciation and amortisation are down 4.7% to EUR1.00 billion from EUR1.05 billion, beating expectations. Jefferies expected Mondi to report a 2025 underlying Ebitda of EUR990 million. Going into 2026, Mondi says it remains unclear when geopolitical and macroeconomic conditions will improve.
----------
COMPANIES - FTSE 250
----------
Safestore issues a first-quarter update, with revenue rising 7.9% on-year to GBP61.2 million from GBP56.7 million. Closing occupancy increases to 75.9% from 74.8%. The company notes that its new Paris area store opened last month, and it expects to open five more by the end of 2026. "Safestore's performance in Q1 2026 represents continued momentum from the strong results reported for FY 2025," says CEO Frederic Vecchioli. "We continued to deliver revenue growth across all markets through active management of both rate and occupancy in our mature and stabilising like-for-like estate, as well as contributions from our newly opened stores."
----------
OTHER COMPANIES
----------
CRH reports annual results, with total revenue rising to USD37.45 billion from USD35.57 billion the prior year. Net income increases to USD3.79 billion from USD3.52 billion. Declares 39 US cents quarterly dividend, up 5% on-year, and says it is undertaking a review of its London-listed ordinary shares, with possible outcomes including the delisting of its stock in London. Its New York listing is not within the scope of the review, which it expects to complete in the first quarter. For this year, CRH says it expects favourable underlying demand across key end-markets, with financial guidance including net income between USD3.9 billion and USD4.1 billion. Also, the building materials provider completes the latest USD300 million phase of its share buyback programme, and starts a new USD300 million buyback to end no later than April 28.
----------
boohoo has completed its equity fundraise, which was "significantly oversubscribed" at the 18p per share issue price. Raises gross proceeds of approximately GBP40 million, due to "investor demand significantly in excess" of the planned GBP35 million. "We are pleased with the strong level of support from new and existing shareholders," CEO Dan Finley. "The success of the fundraise demonstrates the strength of support for our multi-year turnaround strategy."
----------
Polar Capital Global Financials Trust reports net asset value total return of plus 13.9% for the year ended November 30, the same as the benchmark MSCI ACWI Financials index. Dividends for the year total 6.75p per share, up from 4.70p the year before. NAV per share is 229.74p as of November 30, up from 207.66p one year prior. "Financials as a sector rewarded investors well this past year and the outlook remains positive," Chair Simon Cordery says. "The macro backdrop, while not entirely benign, is constructive...Our managers have a positive view for the coming year and continue to find attractive companies to include in the portfolio; they have a broad palette of geographies to study, sectors to trawl and stocks to identify as long term winners. We look forward to the coming year with optimism."
----------
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Rio TintoCentricaCRHSchrodersBHP GroupSafestoreBoohooPolar Cap GblPCFS.LMondi