The FTSE 100 traded above 10,900 on Friday as the march towards 11,000 continued, with support from a rebound in mining stocks and Rightmove’s positive reaction to earnings.
London’s leading index was trading at 10,894 at the time of writing, up 0.4%.
“The FTSE 100 is now less than 1% away from hitting 11,000, suggesting the milestone is perfectly in reach in a matter of days or hours rather than months,” says Russ Mould, investment director at AJ Bell.
“Two months in, it looks like 2026 could be a second bumper year in a row for investors putting their faith in UK stocks if current performance trends continue.”
Rightmove was the FTSE 100’s top riser, moving 5% higher, after the property portal released encouraging full-year results. Revenue rose 9%, and profits increased 12% as the firm launched new AI-powered tools and expanded the number of agencies it works with.
“Rightmove still owns the front door to Britain’s housing market, but lately that market has been on shaky ground. Despite another year of sturdy growth, Rightmove shares have taken a notable knock over the past six months, suggesting investors, while not questioning the quality of the business, are less comfortable with the price,” said Mark Crouch, market analyst for eToro.
“Operationally, Rightmove remains an enviable machine. A 70% underlying margin, 89% share of time spent, and traffic that is overwhelmingly direct and organic give Rightmove a moat that most digital businesses can only dream of. Revenue up 9%, profits up double digits, and strategic growth areas expanding 25% underline that agents are still paying for premium positioning.”
IAG confirmed record performance in 2025, but wasn’t given a warm reception by investors, with shares falling 4%.
Russ Mould said: “It’s hard to fault the latest set of results, but the market seems to want more, judging by the fairly muted share price reaction.”
Melrose was at the bottom of the leaderboard after issuing disappointing guidance for the year.
Miners were higher on the session and played a key role in taking the index higher on Friday. Fresnillo gained 3% and Antofagasta rose 2%.
Howden Joinery extended yesterday’s rally by adding another 2%. Shares are around 50% higher than 2025’s low.