London, Jan 30, 2026, 10:52 GMT — Regular session
- The UK’s FTSE 100 inched higher, flirting with record territory as banks and Experian lent support to the index.
- Gold and silver took a hit, pulling major miners down sharply with them.
- Traders tracked new UK housing credit figures alongside U.S. rate expectations for clues.
The UK stock market barely moved on Friday. Experian surged following a fresh buyback announcement, balancing out sharp losses in major miners as metal prices dipped. The blue-chip FTSE 100 edged up roughly 0.2% to about 10,189 points, while the FTSE 250, more UK-focused, held steady.
The balance is crucial as London stocks have relied heavily on commodities and financials to drive the FTSE 100 to new highs this month, making the index vulnerable to any pullback in metals and interest rate trades. Investors were also cautious about potential headline risks tied to U.S. monetary policy leadership, which stirred movements in currencies and commodities during early trading.
Mining stocks took the biggest hit. Antofagasta dropped roughly 5%, Endeavour Mining slid close to 5%, and Fresnillo shed over 4%. Glencore and Anglo American also saw declines.
Banks lent some support, with Lloyds climbing over 2% and Barclays gaining roughly 1.6%, as traders adjusted positions ahead of earnings and rate guidance. IAG and easyJet also advanced, riding a broader wave of buying in travel stocks.
Experian jumped around 3.6% to about 2,792 pence following the announcement of a new $1 billion share buyback plan. The credit data company said it would maintain its medium-term financial targets and dividend policy.
The commodity sell-off hit fast. Gold dropped roughly 4%, silver tumbled over 6% during European trading, and copper slipped, cooling the rally that had boosted London’s miners recently. Gilt yields climbed a few basis points — each one equals 0.01 percentage point — while the dollar gained ground.
Bank of England figures revealed mortgage approvals for house purchases dropped to 61,013 in December, marking the lowest level since June 2024 and falling short of economists’ expectations. It underscores that the housing market’s recovery is far from steady. “Activity in the housing market remained tepid between the Budget and Christmas, even though the measures announced were predominantly positive,” said Simon Gammon, managing partner at Knight Frank Finance. Reuters
Shares in Europe nudged up, buoyed by earnings optimism, though analysts warned that geopolitical tensions and unexpected shifts in U.S. policy might unsettle sentiment. “There is a level of uncertainty which could keep investors a little bit on edge going forward,” said Fiona Cincotta, senior market analyst at City Index. Reuters
London’s FTSE 100 hit a record intraday high before settling just above its previous close, driven by gains in financials and energy stocks. Miners saw a boost too, lifted by robust copper prices at the time — though these trends were starting to unwind on Friday.
The tape remains fragile. If selling pressure in precious metals intensifies, it could easily overwhelm index support coming from banks. Meanwhile, a steeper climb in global yields would put to the test those rate-sensitive sectors that have been quietly holding steady as the month closes.
Next on the agenda is the U.S. president’s anticipated announcement of the next Federal Reserve chair. Early February brings a slew of key events, notably the Bank of England’s rate decision and Monetary Policy Report on Feb. 5, alongside fresh corporate earnings and updates out of London.
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