Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading rose around 0.16% on 09 February 2026.

Macro Update: The UK economy remains in a low-growth phase as the Bank of England holds rates at 3.75%, balancing cooling inflation against a softening labor market. While manufacturing shows resilience, stagnant household incomes and fiscal caution limit the overall 2026 recovery.

Top Market Movers: Among top gainers on FTSE 100 index, Metlen Energy & Metals PLC (LSE: MTLN) witnessed a rise of 4.61% followed by Endeavour Mining PLC (LSE: EDV) which gained around 3.50%.

Commodity Update: The Japanese yen strengthened in Asian trading on Monday after a decisive election victory lifted expectations of fiscal stimulus, snapping a six-day losing streak. Gold rose 1.19% to USD 5,038.90, silver jumped 5.09% to USD 80.92, and copper edged 0.01% higher to USD 13,052.00. Brent crude slipped 0.70% to USD 67.57 amid easing Middle East tensions, a resilient dollar, and caution ahead of key U.S. and China data.   

Our Stance: As of February 2026, the official stance is one of cautious stabilization. The Bank of England recently held rates at 3.75%, prioritizing a sustainable return to the 2% inflation target over immediate growth, despite a softening labor market.

FTSE 100: The FTSE 100 advanced 26.33 points to trade near 10,396.08, while continuing to hold comfortably above the key 9,800 support zone, preserving a stable broader structure. The 21-day and 50-day Simple Moving Averages remain positioned below current levels, providing underlying support and allowing scope for near-term consolidation. Momentum has edged higher, with the RSI at 67.86, reflecting a pick-up in momentum. Immediate support is seen near 8,950, while resistance is located around 10,500 and 10,600.

Source: Charts by EODHD/Others

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