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London’s blue chip index was lower on Tuesday midday as shares in big banks fell ahead of US retail sales data for December. The FTSE 100 index was down 23.38 points, 0.2%, at 10,363.02. The FTSE 250 was up 29.50 points, 0.1%, at 23,369.53, and the AIM all-share was down 2.33 points, 0.3%, at 814.71. The Cboe UK 100 was down 0.2% at 1,034.59, the Cboe UK 250 was marginally lower at 20,674.54, and the Cboe small companies was up 0.3% at 18705.46. Stocks in New York were called marginally higher across the board. The Dow Jones Industrial Average was called marginally higher, the S&P 500 index marginally higher, and the Nasdaq Composite are all seen opening slightly higher. The yield on the US 10-year Treasury was quoted at 4.18%, narrowing from 4.21%. The yield on the US 30-year Treasury was quoted at 4.83%, narrowing from 4.86%. Small business optimism in the US deteriorated in January, data published by the NFIB Research Foundation showed Tuesday. The NFIB Small Business Optimism index declined to 99.3 points in January from 99.5 points in December, undershooting FXStreet-cited expectations for an improvement to 99.9 points. The index nevertheless remained above its 52-year average of 98. NFIB Chief Economist Bill Dunkelberg said: ‘While GDP is rising, small businesses are still waiting for noticeable economic growth. Despite this, more owners are reporting better business health and anticipating higher sales.’ Meanwhile, 18% of small business owners cited taxes as their single most important problem, down two percentage points from December and remaining the top concern. NFIB said this suggests other issues such as labour quality, inflation and poor sales are ‘not currently in a bad state’. On the geopolitical front, Israel’s Prime Minister Benjamin Netanyahu said Tuesday that the top priority in his talks with US President Donald Trump would be the ongoing negotiations with Iran, as he presses for a tougher US approach to Tehran’s ballistic missile programme. Iran has so far rejected expanding the scope of its talks with the US beyond its nuclear programme, though Washington also wants Iran’s ballistic missile programme and support for regional militant groups discussed. The two leaders are due to meet in Washington on Wednesday. Oil prices edged higher amid the Iran focus, with Brent quoted at $69.33 a barrel at midday in London on Tuesday, up from $68.85 late Monday. Gold was quoted at $5,053.90 an ounce, down from $5,068.99. In London, Standard Chartered was down 5.4% after announcing that Chief Financial Officer Diego De Giorgi is leaving the board and the bank with immediate effect to join US private equity firm Apollo Global Management Inc as a partner and head of Europe, Middle East & Africa. Apollo said it has $155 million in assets under management in the EMEA region. At Standard Chartered, Deputy CFO Peter Burrill steps up as interim CFO, having joined the bank in 2017 from Deutsche Bank AG. A permanent CFO will be announced ‘in due course’. De Giorgi had been viewed as a potential successor to Chief Executive Bill Winters, the Financial Times reported. Meanwhile, shares in Barclays were down 2.4%, NatWest was 2.0% lower, Lloyds Banking was down 1.4%, and HSBC shares were down 0.9%. Coca-Cola HBC was among the strongest performers on the FTSE 100 after reporting higher annual profit and shareholder returns, citing its pricing strategy. The bottler reported net profit of €940.4 million for 2025, up 15% from €820.6 million in 2024, while pretax profit rose 16% to €1.31 billion from €1.13 billion. Net sales revenue climbed to €11.60 billion from €10.75 billion, driven by organic revenue growth of 8.1%, with volumes up 2.8% and continued strength in the Sparkling and Energy categories. In European equities on Tuesday, the CAC 40 in Paris was up 0.4% as French President Emmanuel Macron urged the EU to close ranks against economic pressure from the US and China. Ahead of an informal EU summit on competitiveness, Macron said Europe risks being ‘swept aside’ within five years if it does not invest more, protect its economy and forge new trade alliances. He called for greater investment in defence, security, technology, artificial intelligence and the green transition. Meanwhile, the DAX 40 in Frankfurt was up 0.1% after data showed the number of insolvencies in Germany rose 4% year-on-year in January. The Halle Institute for Economic Research said 1,391 insolvencies were recorded in January, down 8% on December but still expected to remain elevated in the first quarter. On the FTSE 250, Mitchells & Butlers was the top gainer, up 2.5%, after Deutsche Bank raised the pub operator to ’buy’ from ’hold’ and lifted its price target to 325 pence from 300 pence. Bellway also rose 3.0% after backing its full-year outlook and reporting growth in first-half completions. The Newcastle upon Tyne-based housebuilder completed 4,702 homes in the six months to the end of January, up 2.7% from a year earlier. It said it remains on track to deliver around 9,200 homes for the full year, 5.2% higher than in financial 2025. First-half completions were at an average selling price of around £322,000, up 3.7% from £310,581 a year earlier. Bellway expects a full-year average selling price of around £320,000, compared to £316,412 previously. Housing revenue increased 6.2% to £1.51 billion from £1.42 billion. Other housebuilders also gained, with Taylor Wimpey up 1.6% on the FTSE 250, while Persimmon rose 2.0%, Berkeley gained 1.5% and Barratt Redrow added 2.0% on the FTSE 100. Among smaller caps, Phoenix Copper jumped 13% as shares rebounded after heavy losses on Monday. The move followed a statement from Chief Executive Officer Ryan McDermott after the company suspended its executive chair Marcus Edwards-Jones and chief financial officer Richard Wilkins with immediate effect pending an investigation into conduct and historic payments. Phoenix said its core assets and strategy remain unchanged and work at the Empire project continues, while talks with Riverfort over a short-term loan facility are ongoing. Hemogenyx Pharmaceuticals was up 16% after raising £2.5 million through a direct subscription by private investors to support its phase I clinical trials. The company issued 313,333 new shares at £7.50 each, with investors also receiving three-year warrants exercisable at £9 per share. Still to come on Tuesday’s economic calendar is US retail sales data for December. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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