London midday: FTSE hits fresh highs amid earnings flurry; miners rally

(Sharecast News) - London stocks were still higher by midday on Friday, having hit fresh highs above 10,900, with miners powering the gains amid a flurry of results from the likes of Rightmove, Melrose and IAG.

The FTSE 100 was up 0.4% at 10,890.15, having hit as high as 10,914 earlier.

Susannah Streeter, chief investment strategist at Wealth Club, said: "The FTSE 100 is sailing ever higher on a big wave of enthusiasm for London listed stocks. The blue-chip index has opened at fresh record levels. It's been on a breathtaking run upwards, accelerating its surge higher since the start of the year, rising by more than 9%.

"Momentum appears to be on its side with the psychologically important 11,000 mark now in its sights. Its mining constituents have been benefitting for demand for metals in particular, as signs indicate that a commodities super-cycle is underway, with huge demand for metals and minerals needed to power the green revolution and build AI infrastructure."

She added that the Labour upset in the by-election was expected so hasn't been a significant market mover.

Market participants were digesting a survey out earlier, which showed that UK consumer confidence dipped in February as people grew more pessimistic about their personal finances.

GfK's long-running consumer confidence index fell three points from January to -19, with three of the confidence measures down, one up and one flat.

The index measuring changes in personal finances over the last 12 months fell four points to -7 in February, while the index tracking the situation over the next year also declined four points, to 2.

The gauge tracking the general economic situation over the last 12 months ticked up to -44 in February from -45 the month before, while the index for the general situation over the next year was steady at -31.

The major purchase index dipped to -14 in February from -10 the month before. The savings index, which is not included in the overall index score, fell to 21 from 28.

Neil Bellamy, consumer insights director at GfK, an NIQ company, said: "After a modest improvement in recent months, consumer confidence is down three points in February, returning to the level seen in November 2025. This decline is mainly driven by weaker perceptions of personal finances - both looking back a year and ahead.

"Fewer people say that now is a good time to make major purchases (a measure that has dropped four points) and fewer consumers intend to save money (the savings index is down seven points). Although the rate of inflation is easing, prices continue to rise, forcing many households to prioritise day to day spending over longer-term needs.

"Views on the broader economy remain firmly in negative territory, with consumers anticipating only limited economic growth this year. Unemployment has now reached its highest level in nearly five years, and this is increasing concerns about job security, particularly given the backdrop of weak wage growth. With fewer entry level opportunities available, those on lower incomes are already feeling the strain, and this trend risks undermining the typically more optimistic outlook held by younger age groups."

In equity markets, precious metals miner Fresnillo shone, along with gold miners Hochschild and Endeavour as gold prices ticked higher.

Heavily-weighted miners more generally were on the rise, with Antofagasta, Anglo American, Glencore and Rio all up.

Rightmove shot to the top of the FTSE 100 as it posted a 9% jump in full-year underlying operating profit and revenue, and announced a �90m share buyback.

Senior surged after the engineer said it had received and rejected several takeover proposals in the last couple of months, but that discussions with two suitors are ongoing.

Rathbones rallied. Now the UK's largest discretionary wealth manager after it bought Investec's wealth management arm last year, it posted a jump in full-year profit and funds under management and administration and struck an upbeat note on the outlook.

On the downside, Flutter Entertainment tumbled as the Paddy Power owner's fourth-quarter results fell short of expectations.

Melrose Industries slumped even as the aerospace and defence firm reported a 21% increase in profits last year as global tensions and conflicts sparked a "significant" increase in military spending.

IAG flew lower despite saying it had delivered another "record" financial performance in 2025 and that it would be returning �1.5bn of excess capital in the next 12 months, starting with a �500m share buyback to complete by the end of May.

Hays slid after the recruiter posted a drop in full-year profit, slashed its dividend and announced the immediate departure of chief executive Dirk Hahn. PageGroup also lost ground.

Wizz Air tanked after private equity firm Indigo Partners sold 10m shares in the airline in a placing, while educational publisher Pearson fell as it posted in line full-year numbers.

Market Movers

FTSE 100 (UKX) 10,890.15 0.40%

FTSE 250 (MCX) 23,782.26 0.27%

techMARK (TASX) 6,023.87 0.05%

FTSE 100 - Risers

Rightmove (RMV) 451.80p 5.08%

Fresnillo (FRES) 4,242.00p 3.51%

Airtel Africa (AAF) 351.40p 3.05%

Smurfit Westrock (DI) (SWR) 3,444.00p 2.81%

London Stock Exchange Group (LSEG) 8,740.00p 2.80%

Anglo American (AAL) 3,764.00p 2.06%

Antofagasta (ANTO) 4,333.00p 1.92%

Glencore (GLEN) 534.10p 1.67%

Rio Tinto (RIO) 7,391.00p 1.61%

AstraZeneca (AZN) 15,318.00p 1.47%

FTSE 100 - Fallers

Flutter Entertainment (DI) (FLTR) 7,894.00p -12.48%

Melrose Industries (MRO) 564.20p -11.66%

International Consolidated Airlines Group SA (CDI) (IAG) 431.00p -5.82%

easyJet (EZJ) 465.30p -2.50%

Vodafone Group (VOD) 111.95p -2.36%

Pearson (PSON) 940.80p -2.10%

Burberry Group (BRBY) 1,170.00p -2.10%

Tesco (TSCO) 474.60p -1.57%

Barclays (BARC) 465.55p -1.47%

Hikma Pharmaceuticals (HIK) 1,351.00p -1.46%

FTSE 250 - Risers

Senior (SNR) 307.00p 19.22%

Rathbones Group (RAT) 2,340.00p 5.88%

Oxford Biomedica (OXB) 645.00p 3.86%

Lion Finance Group (BGEO) 11,930.00p 3.66%

Hochschild Mining (HOC) 820.50p 3.46%

Endeavour Mining (EDV) 5,315.00p 3.00%

Genus (GNS) 2,930.00p 2.99%

Howden Joinery Group (HWDN) 976.50p 2.85%

Derwent London (DLN) 1,811.00p 2.85%

Trustpilot Group (TRST) 148.10p 2.49%

FTSE 250 - Fallers

Wizz Air Holdings (WIZZ) 1,211.00p -9.13%

Hays (HAS) 40.96p -8.69%

WPP (WPP) 264.70p -6.38%

Aston Martin Lagonda Global Holdings (AML) 46.38p -3.58%

NCC Group (NCC) 132.00p -3.37%

Princes Group (PRN) 427.50p -2.06%

Pagegroup (PAGE) 189.60p -1.76%

Future (FUTR) 413.20p -1.76%

W.A.G Payment Solutions (EWG) 112.00p -1.75%

Rank Group (RNK) 94.00p -1.68%