Weekly review
By Josh White
Date: Friday 13 Feb 2026
(Sharecast News) - The FTSE 100 ended the week up 76.52 points, or 0.74%, closing at 10,446.35 on Friday.
Equity view
European Opportunities Trust said on Friday that it has begun a strategic review of the future of the company, which could result in a merger or cash exit, as it conceded it was unlikely to meet performance targets. The trust - whose top 10 holdings include Genus, Novo Nordisk and Experian - said that over the last three years, the board has been pro-active in seeking to enhance shareholder value.
The Diverse Income Trust said on Friday that it underperformed its benchmark index in the six months to 30 November 2025, as its tilt towards smaller companies proved to be a headwind. The company's net asset value total return was 8.5%, versus a 12.5% total return from the Deutsche Numis All Share Index.
Sky's talks with London-listed broadcaster ITV about buying its broadcast channels and streaming platform have reportedly slowed in recent weeks, as the battle to buy Warner Bros Discovery disrupts the industry. ITV announced in November that it was in talks to sell its media and entertainment unit to Comcast-owned Sky for £1.6bn.
Life science business SkinBioTherapeutics said on Friday that chief executive Stuart Ashman has resigned, having been suspended by the board pending an investigation into matters relating to his conduct. SkinBioTherapeutics said it was undertaking a full investigation, supported by its professional advisors.
Tobacco giant British American Tobacco posted preliminary full-year results on Thursday, reporting a slight decline in reported revenue but modest growth at constant currency rates. British American Tobacco said revenues had slipped 1% to £25.61bn in the year ended 31 December, but rose 2.1% at constant rates, with its new categories division accelerating to double digits in the second half, delivering full‑year revenue growth of 7% to £3.62bn, while its contribution to profit jumped 77% to £442m.
Morgan Sindall said on Thursday that its results for 2026 were set to be ahead of expectations thanks to a strong performance from its Fit Out division. In an update on trading for the 2025 financial year, the company said all divisions performed well with the group on track to deliver results in line with current expectations.
Property developer Great Portland Estates has pre-let 52,293 square feet at The Delft, SE1 to global data, analytics, and AI software company Quantexa. Great Portland Estates said on Thursday that Quantexa has agreed to a ten-year lease, occupying the ground floor East, first floor East, and the fifth, sixth and seventh floors.
THG is to target the booming obesity jab market through a strategic partnership with convenience food producer Greencore Group, it confirmed on Thursday. Under the terms of the deal, financial details of which were not disclosed, Greencore will produce a range of on-the-go convenience foods, including salads and wraps, under THG's Myprotein sports nutrition brand.
Water supply company Severn Trent said on Wednesday that its financial performance was in line with expectations, with the group also "on track" to meet its environmental and operational targets. Severn Trent said it expects capital investment to come in toward the top end of its guidance range, supported by the benefits of insourcing and early scaling, but also reiterated that it remains on track to deliver at least £40m of reward from outcome delivery incentives and price‑control deliverables in the current year.
Barratt Redrow reiterated full-year guidance on Wednesday, despite subdued market conditions, following a "resilient" first half. The housebuilder - which acquired rival Redrow 16 months ago - said it had delivered 7,444 total home completions in the 26 weeks to 28 December, a 4.7% increase on the same period a year previously.
Imperial Leather maker PZ Cussons lifted its full-year profit guidance on Wednesday following a strong first-half performance. In results for the six months to 29 November 2025, the company said adjusted operating profit grew 31.9% to £35.6m, while pre-tax profit was 50.5% higher at £29.8m. Revenue rose 8% to £269.3m, with like-for-like revenue growth of 9.5% and growth in each of its four lead markets of UK, ANZ, Nigeria and Indonesia.
UK engineering group Renishaw said it expected higher full-year revenue and profit growth despite a mixed market outlook after interim earnings jumped 11.5% on an adjusted basis boosted by strong contributions from the defence and semi-conductor sectors. The company on Wednesday said it expected ongoing strong demand across specific sectors and product lines offsetting more subdued conditions in general industrial markets.
AstraZeneca posted a spike in full-year revenues and earnings on Tuesday, boosted by strong demand for its cancer drugs, and forecast further growth in the current year. The blue chip heavyweight saw total revenues in the year to December end rise 9%, or by 8% on a constant currency basis, to $58.7bn. Core earnings per share were 11% stronger in constant currencies at $9.16. Both figures were largely in line with expectations.
Housebuilder Bellway said on Tuesday that despite "subdued trading" through autumn, it had delivered a "robust" first half performance, with total housing completions growing 2.7% to 4,702. Bellway said average selling prices were roughly £322,000, up from £310,581 in the prior year, with the increase driven by "geographic and mix changes", while incentive levels remained broadly stable at between 4-5%. Housing revenue increased by over 6% to £1.51bn.
BT on Tuesday appointed Katie Milligan to lead its Openreach broadband infrastructure business. Milligan, currently deputy chief executive of the unit, will take over on April 1 and succeed Clive Selley, who has been appointed boss of BT International.
Drugmaker GSK said on Tuesday that China's Center for Drug Evaluation has accepted its regulatory filing for Arexvy, its recombinant, adjuvanted respiratory syncytial virus vaccine, for the prevention of lower respiratory tract disease in adults aged 60 and over. GSK noted that, if approved, it would become the first RSV vaccine available to this age group in China to help protect against the "potentially serious consequences" of RSV.
Supermarket technology group Ocado is reportedly planning to cut up to 1,000 jobs, or 5% of its global headcount, as part of a renewed cost-cutting drive after a bruising year for its automated warehouse business. According to The Times, talks are still in their early stages and a final decision has yet to be made.
Plus500 said on Monday that its FY 2026 performance was set to be ahead of market expectations following a better-than-expected performance in 2025, as it announced "significant" shareholder returns. In preliminary results for the year to the end of December 2025, the company said earnings before interest, tax, depreciation and amortisation ticked up 2% to $348.1m, while revenue rose 3% to $792.4m.
Energy and services firm Centrica said on Monday that it has completed the disposal of a number of non-core energy solutions businesses. Centrica said its energy solutions businesses in Italy and the Netherlands have been sold to Joulz, a 3i Infrastructure portfolio company, while its Hungarian business has been disposed of via a management buyout.
NatWest shares fell on Monday after the bank said it had agreed to buy UK wealth manager Evelyn Partners from funds advised by Permira and Warburg Pincus for £2.7bn including debt and launching a new £750m share buyback. The bank on Monday said the deal would increase fee income by 20% pre-revenue synergies. Evelyn Partners, formerly known as Tilney Smith & Williamson, has £69bn of assets under management compared with NatWest's £59bn.
Economic news
Retail footfall softened slightly in January, industry data showed on Friday, although the pace of decline was a notable improvement on December. According to the latest BRC-Sensormatic footfall monitor, total UK footfall fell 0.6% in January year-on-year, as stormy winter weather kept shoppers at home. However, it was a notable improvement on the previous month's 2.9% slide.
Daily Mail and General Trust's proposed £500m takeover of the Telegraph titles looked set to face a formal investigation on Thursday, after the Culture Secretary intervened on public interest and competition grounds. Lisa Nandy said she was "minded to" issue a public interest intervention notice over the planned acquisition of Telegraph Media Group, citing concerns about the potential impact on the "plurality of views" in UK news media.
The UK economy grew by just 0.1% in the final months of 2025, official data showed on Thursday, as the services sector stagnated. According to the Office for National Statistics, the 0.1% uptick was unchanged on the third quarter. Expectations for the fourth had ranged from 0.1% to 0.2%.
The UK housing market showed growing signs of stabilisation last month, a closely-watched survey showed on Thursday, as prices ticked up and sentiment strengthened. According to the latest residential market survey from the Royal Institution of Chartered Surveyors, the house price balance was -10 last month.
Consumer card spending saw subdued growth in January, according to Barclays data on Wednesday, though spending on entertainment and online retail performed strongly as a result of the cold weather. Spending across Barclays debit and credit cards - which account for nearly 40% of the UK's overall transactions - increased by just 0.8% last month, well below the latest CPIH inflation rate of 3.6%.
Retail sales across the UK picked up strongly in January, as New Year promotions spurred consumer spending following two months of subdued growth. According to the British Retail Consortium-KPMG monthly UK retail sales monitor released on Tuesday, sales rose 2.7% year-on-year over the four weeks to 31 January.
The hiring downturn across the UK eased slightly in January, according to a report out on Monday from KPMG and the Recruitment & Employment Confederation, with candidate availability rising at its slowest rate in a year. While subdued market confidence and pressure on staff budgets continued to dampen overall recruitment, the rate of decline in permanent placements was its weakest in 18 months, while temporary billings rose for the first time in three months - only the second increase since May 2024.
International events
Car maker Stellantis is reportedly quietly resurrecting diesel versions of at least seven car and passenger van models across Europe as it retreats from electric vehicles, according to a review of dealer websites and company statements to Reuters. In a previously unreported strategic shift, the company, which owns Chrysler, Fiat and Jeep, among others, began in late 2025 to reintroduce diesel versions in Europe for models ranging from various passenger vans to the Peugeot 308 and premium DS No. 4 hatchback.
Moderna revenues fell by almost a third over the final quarter of 2025, though the American pharma giant reported a narrower loss than expected, causing shares to rise in pre-market trading. Revenues totalled $678m over the three months to 31 December, down 31% from the year before slightly ahead of forecasts of $635m.
US consumer prices edged higher in January, according to fresh data from the Bureau of Labor Statistics, with headline CPI rising 0.2% on the month, while the annual rate eased to 2.4%, down from 2.7% in December. Economists expected to see the inflation gauge show a 2.5% year-on-year advance and a 0.3% month-on-month uptick.
Dubai-based logistics giant and P&O Ferries parent company DP World has announced that its chief executive has left with immediate effect following reports of his alleged ties to Jeffrey Epstein. Sultan Ahmed bin Sulayem, who has led DP World since 2016 and been chair since 2007, is said to have appeared in the latest release of the Epstein files by the Department of Justice, and had sent communications to the late disgraced financier even after the latter's conviction for soliciting prostitution from a minor in 2008.
The United States and Taiwan finalised a reciprocal trade agreement, it emerged on Friday, that sets a 15% US tariff on imports from Taiwan while committing Taipei to eliminate or reduce tariffs on nearly all American goods and significantly increase purchases of US products over the next four years. Under the deal, Washington would lower tariffs on Taiwanese exports to 15%, down from the 20% initially imposed earlier this year, placing Taiwan on par with regional competitors Japan and South Korea.
The European Union's trade surplus fell again, according to flash estimates published on Friday, as US tariffs continued to hit exports while imports, particularly from China, weighed on local manufacturers. The 27-nation bloc's surplus fell to €12.9bn in December from €13.9bn a year earlier as chemical, machinery and vehicle sales declined, said the EU's statistical office.
Eutelsat Communications reported a near 60% surge in low earth orbit (LEO) revenues in the first half of its 2026 financial year on Friday, as strong momentum in connectivity offset continued structural pressure in its video business. For the six months ended 31 December, total group revenues stood at €591.6m, down 2.4% on a reported basis but broadly stable on a like-for-like comparison. Revenues from the four operating verticals reached €573.8m, slipping 0.6% like-for-like.
Pinterest's share price was down 20% in pre-market trading on Friday after the image pinboard platform disappointed investors with its fourth-quarter results and outlook for the start of 2026. Revenues rose 14% year-on-year over the final three months of 2025 to $1.32bn, pushing full-year turnover up 16% to a record $4.22bn.
Capgemini reported full-year 2025 revenues of €22.47bn on Friday, up 3.4% at constant exchange rates, exceeding its upgraded guidance of 2% to 2.5% growth, as accelerating fourth-quarter momentum and the consolidation of recently acquired businesses boosted performance. Fourth-quarter revenue rose 10.6% year-on-year at constant currency to €5.97bn, reflecting a significant contribution from acquisitions including WNS and Cloud4C.
L'Oréal shares slid in early Paris trading on Friday after the world's biggest beauty group reported fourth-quarter sales that fell short of expectations, weighed down by a weaker-than-anticipated performance in North Asia and a slowdown in travel retail. The company said like-for-like sales rose 6% in the quarter to about €11.25bn to €11.3bn, slightly below the consensus forecast of roughly 6.3% to 6.5%, prompting analysts to question whether top-line momentum can accelerate meaningfully in 2026.
While OpenAI has held on to the record for the largest private tech fundraising round, rival Anthropic has now secured the second‑largest. Anthropic said late on Thursday that it had closed a $30bn funding round at a $380bn post‑money valuation, more than doubling its valuation since September.
Norwegian aluminium and renewable energy company Norsk Hydro reported a smaller-than-expected decline in fourth-quarter profits on Friday, but a disappointing outlook for the extrusions arm pushed shares lower. The Oslo-based group reported adjusted EBITDA of NOK5.59bn for the final three months of 2025, down from NOK7.70bn the year before, mainly driven by lower alumina sales prices and a weaker krone. However, this was comfortably ahead of the NOK5.23bn consensus forecast.
French aerospace firm Safran delivered what it described as excellent financial results for 2025 on Thursday, posting strong revenue growth, higher profitability and record cash generation, prompting the group to raise its ambitions for 2028. Safran reported revenues of €31.32bn for 2025, up 14.7% on 2024, driven by continued strength in civil aftermarket services, higher LEAP engine deliveries and solid momentum across its equipment and defence activities.
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