London, Feb 27, 2026, 17:25 GMT — Markets have shut for the day.
- UK blue-chips notched another record close to finish the week, brushing aside softer action in other markets.
- Firmer metals and oil prices lifted mining and energy shares. Travel stocks, though, slipped behind.
- Traders kept their eyes on rate-cut wagers and political developments, with the next Bank of England call looming.
The FTSE 100 notched a record finish on Friday, climbing 63.85 points, or 0.6%, to 10,910.55. The FTSE 250 tacked on 0.2%, closing at 23,757.15. 1
Another run higher for the FTSE 100, now on track for its eighth consecutive monthly win. Up 6.6% this February, the index got a lift from major mining stocks as investors chased gold and copper, reacting to fresh jitters around U.S. tariffs and ratcheting U.S.-Iran friction. 2
Rates haven’t let go of the steering wheel just yet. Bank of England chief economist Huw Pill warned the central bank against getting “lulled into a false sense of security” by recent drops in inflation—a nod to the fact that a March rate cut remains far from guaranteed, even as markets price it in. 3
Sterling couldn’t find much support, sliding toward a second straight weekly loss after Labour’s by-election upset. Investors shied away from riskier currencies, wary of rising geopolitical tensions. “Anything that is seen weakening the position of Prime Minister Keir Starmer has hit the pound,” said ING strategist Francesco Pesole. 4
Late in the day, commodities caught a bid. Brent crude picked up 2.1%, closing at $72.35 a barrel in London. Silver jumped, up 7.3% to $94.31 an ounce. Gold put on 1.2%. Copper inched higher—0.9%. Susannah Streeter at Wealth Club pointed to mounting evidence of what she called “a commodities super-cycle,” driven by demand from the green transition and AI infrastructure. 5
Wizz Air dropped sharply after Indigo Partners, its major backer, offloaded 10 million shares at 1,250p apiece in a quick-fire bookbuild. The sale brought in roughly £125 million for the private equity group. Wizz closed out the day down 8.7% at 1,220p. According to JP Morgan, some Indigo investors were looking to exit following “an extended holding period.” 6
IAG, the parent company of British Airways, slipped 7.35% to 423.70p, despite management touting another record year in 2025 and laying out a €1.5 billion capital return for the next year. Analysts flagged investor jitters over the company’s guidance as a likely drag on the shares. 7
London Stock Exchange Group remained in focus after an activist investor surfaced. Shares in LSEG jumped 4.24% to £88.60, extending earlier gains that followed news of a £3 billion share buyback and robust annual results. Elliott, now a stakeholder, is calling for a tighter grip on organic growth and capital returns. 8
Shares in engineering group Senior surged on renewed takeover buzz. The company confirmed it’s had five approaches lately and is now negotiating with two suitors, one of them Advent. Under the UK’s “put up or shut up” rule, Advent has until March 27 to come forward with a binding bid. Analyst Alexandro da Silva O’Hanlon at Panmure Liberum said: “Clearly there is value at Senior.” 9
Even as London desks were winding down for the week, U.S. economic numbers kept cutting through. January’s producer price index climbed 0.5%, and when you strip out volatile food and energy, goods prices increased 0.7%. Nationwide’s Ben Ayers flagged that wider margins here “could add some upside for consumer costs,” which only hardens the view that the Fed won’t budge rates before June at the earliest. Traders are still waiting on the U.S. PCE inflation reading — the metric the Fed actually cares about, with its “core” figure excluding food and energy — now slated for March 13. 10
The rally hasn’t been without its rough patches, and those weak spots count. European stocks hovered close to record highs, but Reuters pointed to ongoing worries about tariffs and the impact of AI upheaval. Barclays took a hit after word surfaced about possible losses tied to Market Financial Solutions’ collapse, while Melrose dropped on a warning about 2026 revenue. “There is an appetite still for equities,” said Trade Nation analyst David Morrison, though some areas have taken a hard knock. 11
London’s closed, so the focus is on any shift in rate expectations ahead of the Bank of England’s March 19 policy call — plus, whether the commodity boost that’s lifted the FTSE manages to last into the week. 12
