The FTSE 100 opened higher and climbed around 0.4% to 10,399, backed by strong gains in mining, energy and financial stocks. Early trading shows commodity-focused names dominating the index.
Index Gains on Commodity Strength
Shares of London Stock Exchange Group rose 2.23% to £7,532 as news activist investor Elliott was building its stake in the group while Rio Tinto added 2.12% to £7,233.
Anglo American gained 1.90% to £3,649, and Antofagasta advanced 1.78% to £3,713. Gold miner Fresnillo climbed 1.42% to £3,854, reflecting strength in bullion prices.
Oil major BP also traded higher, benefiting from Brent crude holding above $69 per barrel.
On the downside, St. James's Place fell 7.32% to £1,343 while RELX declined 3.31% to £2,075.
Spirax Group slipped 2.05% to £7,660 while Intertek declined 1.89% to £4,460 and it reflects sector-specific pressures.
Berkeley Group Holdings also declined 1.73% to £4,198.
Barratt Redrow Drops 7% After Earnings
Barratt Redrow fell around 7% to £363.5 after the release of half-year results which includes a 13.6% drop in adjusted profits to £199.9 million.
Although completions increased to 7,444 homes, management reduced the interim dividend and warned that sustained demand recovery is essential for growth.
Chief executive David Thomas said a strong land bank, solid forward sales and synergies after Barratt's merger with Redrow left the business well placed for medium-term growth.
Corporate Updates Drive Sector Moves
Renishaw secured a 7% rise in the second quarter but with 20% of its businesses focused on the US, tariffs marked a significant "headwind".
The group's revenue for the six months ended 31 December 2025 hit £365.6 million, with the second-quarter over 14% higher than first-quarter.
The tariffs, along with currency fluctuations, created a 3.8% drag on the group's adjusted operating profit margin. The board expects full-year revenue to be between £740 million and £780 million.
PZ Cussons said its sales were boosted by higher prices and stronger Christmas gifting. Total revenues increased by 9.5% on a like-for-like basis in the six months to November 29.
Shares rose 9% to £87.3 after the FTSE 250-listed firm reported a 50.5% jump in half-year pre-tax profits to £29.8 million.
Global Market View
In the US, the Dow Jones Industrial Average rose 0.1% to set a new record, but the S&P 500 index fell 0.3% and the tech-focused Nasdaq Composite lost 0.6%.
Stock markets in Shanghai and Hong Kong traded slightly higher after China's annual rate of inflation slowed more than expected to 0.2% in January.