London, Jan 10, 2026, 09:02 GMT — Market closed
- NatWest shares closed down 0.25% at 642.6p on Friday, lagging a broader UK market rise
- The bank disclosed another tranche of share repurchases under its buyback programme
- Attention turns to UK inflation data on Jan. 21, the Bank of England decision on Feb. 5 and NatWest’s Feb. 13 results
NatWest Group Plc shares (NWG.L) ended Friday down 0.25% at 642.6 pence, after the bank reported another round of purchases under its ongoing share buyback programme.
The buyback itself is routine, but it keeps the focus on capital returns at a moment when investors are watching how quickly lower interest rates could bite into bank earnings. NatWest, like peers Barclays and Lloyds, has leaned on dividends and buybacks to underpin the stock after a strong run.
Rate expectations matter because lenders make a large share of profit from the gap between what they earn on loans and what they pay on deposits. NatWest has said it plans to lay out guidance for 2026 and new targets for 2028 with its full-year 2025 results.
The wider mood in London was firmer into the weekend. The FTSE 100 closed at a record 10,124.60 on Friday, and Axel Rudolph, senior technical analyst at IG, called it “an impressive start to 2026.” voxmarkets.com
NatWest said it bought back 841,756 ordinary shares on Jan. 9 through Merrill Lynch International. The bank put the volume-weighted average price — an average weighted by the number of shares traded at each price — at 641.89 pence, with the day’s prices ranging from 635.60p to 647.00p.
For traders, the near-term levels are close by. NatWest traded between 635.60p and 647.20p on Friday, and the shares have swung this week between roughly 631.80p and 674.20p, based on daily highs and lows.
The stock has also been choppy session to session. On Thursday it rose 1.87% to close at 6.44 pounds, and turnover was well below its 50-day average, MarketWatch data showed.
Beyond the company, the next obvious triggers are macro. The Office for National Statistics has flagged Jan. 21 as the next UK inflation release date, while the Bank of England is due to publish its February policy decision and Monetary Policy Report on Feb. 5.
But the set-up cuts both ways. Faster rate cuts than investors expect could pressure interest income, while a softer UK economy could lift loan-loss charges and leave banks less willing to keep buying back stock at the current pace.
The next hard marker for NatWest is its annual results on Friday, Feb. 13, when it is due to publish at 7 a.m. GMT, followed by a management presentation at 9 a.m. GMT.
