London, Feb 11, 2026, 17:14 GMT — The session has ended.
- Blue-chip UK stocks closed up. Midcaps trailed behind.
- Fresh concerns over AI disruption sparked selling in wealth manager stocks.
- Thursday brings the next macro hurdle: UK GDP data.
The FTSE 100 set a new record close on Wednesday, gaining 118.27 points, or 1.1%, to finish at 10,472.11—topping its previous high of 10,402.34 from Feb. 4. Miners and banks pushed the benchmark higher, but wealth managers felt pressure from renewed AI concerns. Meanwhile, the FTSE 250, which tracks more UK-focused firms, slipped 0.2%, losing 52.76 points to end at 23,416.54.
Investors scrambled to adjust their rate bets after U.S. data topped forecasts, underscoring just how fast global bond yields can shift. Nonfarm payrolls rose by 130,000 in January, according to the Labor Department, while unemployment stuck at 4.3%. Most of the hiring showed up in health care, social assistance and construction.
The report also flagged significant downward revisions that suggest hiring could slow more noticeably in 2025. That was enough for traders to pull back on bets for speedy Fed rate cuts, sending both the dollar and Treasury yields higher. “The only jobs being filled in January are in health care and social assistance,” said Christopher Rupkey, chief economist at FWDBONDS. Reuters
London’s wealth management stocks took a hit after U.S. startup Altruist rolled out AI-powered tax tools, sparking fresh anxiety about incumbent firms getting squeezed. Shares in Aberdeen, Quilter, IG Group and AJ Bell dropped between 2.4% and 6% by late morning; St James’s Place was down 10.7%. On the flip side, Rio Tinto and Anglo American added 2.5% as copper prices gained. Traders were eyeing UK GDP figures due Thursday, and looking ahead to jobs data next week for signals on possible Bank of England rate moves.
St. James’s Place dropped 13.39% to £12.55 by the end of the session, bucking the broader FTSE 100, which ended in positive territory. MarketWatch reported trading volume soared to 8.2 million shares, far surpassing the 50-day average.
Shares in London Stock Exchange Group swung back and forth after Reuters said activist firm Elliott Management has taken a position and is pushing for moves like a bigger share buyback. That’s when a company buys back its own stock. “When you’ve got your core business under attack from AI, you need to really focus strategy,” said Stephen Yiu, chief investment officer at Blue Whale growth fund, which holds LSEG shares. The company says it’s in active, open talks with investors; UK regulations call for disclosure once a stake tops 3%. Reuters
Barratt Redrow slashed its interim dividend to 5 pence after reporting a 13.6% drop in first-half adjusted pre-tax profit, down to £199.9 million, as rising build costs continued to outpace home prices. “We don’t need significant house-price inflation to maintain margins,” Chief Executive David Thomas told Reuters. Oli Creasey at Quilter Cheviot noted the dividend cut “may disappoint shareholders.” Even so, the company stuck with its home-completions goal for the year ending June. Reuters
Barratt Redrow shares clawed back losses after a shaky start, swinging from 356.2 pence up to 392.9 pence before ending the day at 388.2 pence, according to shareprices.com data.
On Tuesday, the FTSE 100 slipped 0.3%. BP dropped 6.1%—the oil major paused its share buybacks and booked roughly $4 billion in charges. Standard Chartered lost 5.7% following news that CFO Diego De Giorgi had exited the bank.
UK assets faced fresh political jitters on Monday. Stocks, government bonds, and the pound all lost ground as pressure mounted on Prime Minister Keir Starmer. NatWest, meanwhile, struck a deal to acquire Evelyn Partners for roughly 2.7 billion pounds. “If we do get shift in the premiership, that could weigh on the currency and long-term bond yields,” Jefferies economist Mohit Kumar told Reuters. Reuters
Still, hitting a record close hasn’t put AI worries to rest. London’s tech index dropped 11.8% earlier this month, with RELX and LSEG both taking heavy losses as investors questioned whether AI might disrupt their core models. Any weak UK GDP data or a fresh leap in global yields could quickly put the current rally to the test.
Thursday at 0700 GMT brings the UK’s initial readout on fourth-quarter GDP. Markets will be watching the headline for anything unexpected that could alter the rate outlook heading into the next session.
Related articles: LSE:RIO
