FTSE 100 Edges Higher As Commodities Lend Support

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading rose around 0.56% on 11 February 2026.

Macro Update: UK growth remains sluggish, with the Bank of England holding rates at 3.75% amid 3.4% inflation. While retail sales recently rebounded, a loosening labour market and frozen tax thresholds continue to squeeze household disposable income, keeping the 2026 GDP outlook near 0.9%.

Top Market Movers: Among top gainers on FTSE 100 index, Antofagasta PLC (LSE: ANTO) witnessed a rise of 2.85% followed by Endeavour Mining PLC (LSE: EDV) which gained around 2.58%.

Commodity Update: The Japanese yen retained firm gains, supported by a rally in domestic equities and expectations that Prime Minister Sanae Takaichi’s decisive election win may reinforce fiscal discipline. The U.S. dollar traded cautiously ahead of the non-farm payrolls report after softer economic indicators. Gold rose 0.91% to USD 5,076.70, silver gained 2.16% to USD 82.11, copper edged up 0.10%, and Brent crude advanced 0.60% to USD 69.18.   

Our Stance: The UK government maintains a stance of "stability, investment, and reform" to break a cycle of economic decline. The strategy prioritises cutting the cost of living through energy subsidies and National Living Wage increases, while targeting tighter EU integration to drive long-term growth.

FTSE 100: The FTSE 100 advanced 26.33 points to 10,399.26, maintaining levels well above the critical 9,800 support zone, which continues to anchor the broader structure. The 21-day and 50-day SMAs remain positioned beneath current prices, reinforcing underlying support and leaving scope for near-term consolidation. Momentum remains constructive, with the RSI at 66.52, reflecting improving upside traction while approaching higher levels. Immediate support is seen near 9,800–9,950, while resistance is placed around 10,500–10,600

Source: Charts by EODHD/Others