London, Feb 22, 2026, 05:56 GMT — The market has closed.
- The FTSE 100 wrapped up Friday with a 0.56% gain, marking a record close as appetite for risk climbed following a U.S. Supreme Court tariff decision.
- HSBC, Standard Chartered, and London Stock Exchange Group are set to kick off a busy stretch for UK earnings starting Feb. 23.
- Robust UK retail sales and upbeat business surveys have cast doubt on expectations for a gentle decline in inflation.
The FTSE 100 starts the week sitting at record highs, as investors brace for earnings from HSBC and London Stock Exchange Group—figures that could decide how much further the rally has to run.
Global trade news and hopes for domestic rate cuts have pushed the benchmark higher. Cash is now flowing in, investors drawn by the relative calm versus U.S. tech.
Why does it matter now? The index just hit a fresh high. Company updates coming up will show if this was simply relief and shifting positions, or if there’s real strength underneath.
In the coming four sessions, expect most of the commentary around London shares to come from a select group: major banks, insurers, consumer firms, and the exchange’s own operator.
The FTSE 100 ended the session up 59.85 points, a 0.56% gain, settling at 10,686.89. Earlier, it briefly climbed to 10,745.76, marking the day’s peak. (Source: London Stock Exchange index data)
Friday’s gains followed a U.S. Supreme Court decision scrapping President Donald Trump’s broad tariffs. Britain, for its part, maintained it anticipates its favored trade ties with the United States will continue.
Defense names held up, buoyed by persistent Middle East tensions in oil-producing regions. Autos, though, lost ground—Aston Martin trimmed its annual loss forecast and revealed plans to offload naming rights for the Aston Martin F1 Team.
Investors found fresh momentum in UK numbers, as retail sales volumes jumped 1.8% in January compared to December—up 4.5% year-on-year, and ahead of the Reuters poll, according to the Office for National Statistics. “Consumers are opening their wallets again,” RSM UK’s chief economist Thomas Pugh said. (Source: Reuters retail sales story)
Business surveys painted much the same picture. The S&P Global UK composite PMI flash reading climbed to 53.9 in February—highest since April 2024. Above-50 means expansion. “An encouraging start to the year,” S&P Global’s chief business economist Chris Williamson said. But Allan Monks, chief UK economist at J.P. Morgan, pointed out “inflation stickiness” had “not gone away.” (Source: Reuters PMI story)
That edge lies beneath the latest rates play. Traders are positioning for a Bank of England cut in March, with the next call coming up March 19. A basis point equals one-hundredth of a percentage point. (Source: Bank of England MPC dates)
Chris Beauchamp, chief market analyst at IG Group, called the FTSE “a rare safe haven this year”—highlighting both lower valuations and “steady momentum” as investors shift away from crowded U.S. tech stocks. (Source: Reuters London stocks close story)
This week’s lineup is packed: MoneySuperMarket leads off Monday. On Tuesday, Standard Chartered, Unite, and Croda International are all in focus. Midweek, expect numbers from HSBC, Haleon, St James’s Place, Hiscox, ConvaTec, and Aston Martin. Thursday’s roster features London Stock Exchange Group, WPP, Drax, and Flutter Entertainment. (Source: LSE financial diary)
Investors watching the banks will be tuned in for signals on credit quality and changes to loan-loss provisions, following a string of upbeat UK macro data. Standard Chartered’s results are set to offer clues for HSBC as well, with both names in focus midweek.
Public finances remain a sensitive subject. Britain chalked up a record surplus of 30.4 billion pounds in January, according to Reuters, which hands Finance Minister Rachel Reeves a bit of leeway before her fiscal update set for March 3. “We will more than halve borrowing by 2030-31,” said Chief Secretary to the Treasury James Murray. But KPMG UK’s Dennis Tatarkov pointed out the chancellor’s room to maneuver has “already likely diminished.” (Source: Reuters UK public finances story)
Still, there’s a significant risk on the table. The Supreme Court’s decision leaves tariff uncertainty hanging: Trump pointed out “other alternatives” exist, then rolled out a 10% global tariff using another legal basis. Moves like that can jolt risk assets fast. (Source: Reuters Supreme Court tariffs ruling)
Wednesday brings HSBC’s results, followed by updates from LSE Group and WPP on Thursday—right as the FTSE kicks off the week at fresh record highs. Next up for UK investors: the Spring Statement and the Office for Budget Responsibility’s forecast landing March 3. (Source: OBR March 2026 Economic and fiscal outlook)
