London, Feb 28, 2026, 09:45 GMT — The market is closed.
- FTSE 100 wrapped up Friday with a 0.6% gain, closing at an all-time high of 10,910.55 and finishing February on a strong note.
- Miners and defensive stocks moved higher, while bank shares slid in the wake of the Market Financial Solutions fallout.
- The coming week features the UK Spring Statement, a packed slate of global PMI releases, plus U.S. payrolls on the docket.
FTSE 100 pushed up 0.6% to 10,910.55 on Friday, snagging a third consecutive record close and wrapping up the week at fresh highs. The index booked a gain of 6.7% for February—marking its eighth month in the green. Barclays dropped 4.2%, while investors sent IAG and Hays lower after their own updates.
This is relevant right now because the rally rests on two things investors are often quick to abandon if sentiment sours: hopes for rate cuts and strong commodities. Some popular trades—banks, airlines, data companies—are also back in the spotlight, precisely as guidance refreshes and the calendar flips.
The London Stock Exchange is closed for the weekend, shifting focus away from “new highs” and toward the question of “what breaks it.” It’s policy moves, data releases, or a sudden bout of funding stress that could shake things up.
The FTSE 100 climbed 1.1% this week, according to Alliance News, with the FTSE 250 nudging higher and AIM All-Share up 0.9%. “Two months in, it looks like 2026 could be a second bumper year in a row,” said Russ Mould, investment director at AJ Bell. Oil and gold prices kept moving up, supporting miners and energy stocks. MarketScreener
Rolls-Royce revved up this week, posting a 40% surge in 2025 profit to 3.64 billion pounds. The firm also rolled out plans for a hefty share buyback, aiming to return between 7 billion and 9 billion pounds to shareholders over 2026–2028. Solid demand for aero-engines and a sharply rising data-centre power division did the heavy lifting here.
London Stock Exchange Group popped up on the tape after it announced a 3 billion pound share buyback and raised its profitability outlook. The move comes as Elliott Management pushes for sharper margin improvements and wants more clarity on how the company will tackle investor concerns about AI dragging on data pricing. “We were definitely keen for them to do a chunky buyback,” said Frederick Kerr-Smiley, analyst at Ninety One. Still, some shareholders remain unconvinced, saying LSEG has yet to demonstrate it can deliver real growth. Reuters
Interest rates remain front and center, with Bank of England chief economist Huw Pill cautioning policymakers not to get comfortable. “Shouldn’t be lulled into a false sense of security,” Pill said, pointing to headline inflation being shaped by one-off effects while underlying price pressures stay above target. The Bank Rate sits at 3.75% ahead of the March 19 decision. Reuters
UK traders have a busy stretch coming up, with Chancellor Rachel Reeves’ Spring Statement set for Tuesday and the Office for Budget Responsibility gearing up to release fresh forecasts. Kathleen Brooks, research director at XTB, called the statement “a formality rather than a political and economic event,” but noted that markets will keep an eye on growth assumptions and what’s happening in jobs. Greggs and Admiral are set to report results, with a few more names in the queue. Sharecast
PMI surveys, those closely watched business polls tracking activity, demand, and costs, are likely to pull global market focus this week as investors look toward Friday’s U.S. payrolls report. S&P Global, in its week-ahead preview, noted that the latest PMI readings will help set the stage for the jobs numbers—and could play into shifting rate expectations.
Still, the bull case has its weak spots. If metals or oil pull back, miners and energy majors—key drivers for the index—would take a hit. Another spike in fuel prices would squeeze airlines, who’ve already flagged the danger. Any escalation in tariff moves or a flare-up with Iran and the U.S. could sap risk appetite fast.
London traders return Monday, eyeing whether Friday’s record finish triggers another round of buying or a wave of profit-taking before Tuesday’s fiscal update and the Bank of England’s March 19 decision. This time, data could set the pace—not just another blue-chip dividend headline, but whatever shifts the rate outlook.
