FTSE 100 Edges Higher as Pound Stabilizes; UK Economy Expands in November -

Market Performance British equities rose marginally on Thursday morning as the pound remained stable against the dollar. While UK companies released various trading updates, broader European markets declined.

FTSE 100: Rose 0.04%.
GBP/USD: Rose 0.02% to 1.34.
DAX (Germany): Fell 0.1%.
CAC 40 (France): Dropped 0.2%.

Economic Data The UK economy grew by 0.3% in November, rebounding from a 0.1% contraction in October, according to the Office for National Statistics. On an annual basis, the economy expanded by 1.4% in November, an improvement from the 1.1% growth recorded the previous month. Despite this return to growth, the economic outlook remains uncertain.

FTSE 100 Edges Higher as Pound Stabilizes UK Economy Expands in November.png

FTSE 100 Edges Higher as Pound Stabilizes; UK Economy Expands in November

Corporate Updates

Rio Tinto & BHP Group: The companies signed a non-binding memorandum of understanding to collaborate on mining up to 200 million tonnes of iron ore in the Pilbara region, Western Australia. The agreement includes developing Rio Tinto’s Wunbye deposit and BHP supplying ore from Yandi to Rio for processing.
Schroders PLC: The asset manager expects 2025 annual results to exceed market expectations. Adjusted operating profit is forecast at a minimum of £745 million (up from £603.1 million in 2024), and adjusted net operating income is projected to be at least £2.58 billion (up from £2.44 billion).
Taylor Wimpey PLC: The homebuilder warned of pressure on operating profit margins in 2026 due to a weaker opening order book and softer bulk sales pricing. For 2025, the group expects an operating profit of approximately £420 million (below the previous guidance of £424 million), with margins narrowing to 11% from 12.2% in 2024.
Rathbones Group: Funds under management and administration (FUMA) rose 2.3% quarter-on-quarter to £115.6 billion as of December 31, 2025. This growth was driven by the Wealth Management segment, which increased to £106.2 billion.
Mitchells & Butlers PLC: The operator reported like-for-like sales growth of 4.5% for the 15 weeks ended January 10, 2026. Performance was strong during the festive season, with like-for-like sales rising 7.7% over the core three-week period.
Safestore Holdings Plc: For the year ended October 31, 2025, total revenue rose 4.9% to £234.3 million. Like-for-like revenue grew 3.1% across all markets, with UK revenue up 3.3% (£167.5 million) and significant growth in expansion markets (+27%).