London stocks muted after geopolitical jitters, miners rise

Bridgepoint

26/01/2026 10:50

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FTSE 100, FTSE 250 little changed

Spire Healthcare's shares soar amid buyout talks

British banks to raise profit targets, sources say

Jan 26 (Reuters) - London shares began the week on a subdued note on Monday, with gains in metal miners offsetting losses in industrial stocks, as caution lingered in markets after recent geopolitical turbulence.

   As of 1017 GMT, the blue-chip FTSE 100 index .FTSE and the mid-cap index FTSE 250 .FTMC were little changed.

   Industrial shares .FTNMX502050 weighed most heavily on London markets, falling 1.4%. Travel and leisure stocks .FTNMX405010 dropped over 1%, pressured by broader geopolitical worries and rising oil prices.

The cautious tone reflects continued investor apprehension after last week's turmoil sparked by U.S. President Donald Trump's Greenland-linked tariff threats against Britain and other European nations.

While the threat has since been withdrawn, investors continue to debate the long-term implications for global trade if tariffs become a standard bargaining tool. Fresh U.S. sanctions targeting Iran have further reinforced market anxiety.

On the flip side, precious metal miners .FTNMX551030 hit record highs, gaining 3.6%, while industrial metal miners .FTNMX551020 climbed 0.9%, buoyed by optimism over the broader commodities outlook and new peaks in precious metals.

Financial shares remained in demand, with banks .FTNMX301010 and life insurers .FTNMX303010 rising 0.6% and 0.8%, respectively.

HSBC HSBA.L and NatWest NWG.L are set to follow their European rivals in lifting key profit targets when they report annual earnings in the coming weeks, according to people close to the matter.

On the economic front, Britain's economy has shown signs of recovery since finance minister Rachel Reeves' annual budget statement in November, following months of uncertainty for employers and households.

Investors are also focused on the Federal Reserve's policy decision later this week. While the U.S. central bank is expected to hold interest rates steady, concerns about its independence are likely to take center stage.

Among individual movers, private hospital group Spire Healthcare SPI.L jumped 16% after announcing it is in early-stage talks with several buyout firms, including alternative asset fund manager Bridgepoint BPTB.L and Triton Partners, to "explore strategic options."

Shares of Bridgepoint were down 2.5%.

 (Reporting by Ragini Mathur in Bengaluru; Editing by Tasim Zahid)

 ((Ragini.Mathur@thomsonreuters.com;))

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