London’s benchmark FTSE 100 climbed to a record level on Thursday, supported by a sharp rally in Schroders plc (LSE:SDR) after it agreed to a takeover by U.S.-based Nuveen, while fresh economic data pointed to modest UK growth at the end of last year.
By 1200 GMT, the blue-chip index was up 0.1%. Sterling strengthened 0.2% against the dollar to 1.3649. On the continent, Germany’s DAX advanced 1.3% and France’s CAC 40 gained 0.8%.
UK economy posts slight December expansion
Official figures showed the UK economy expanded by 0.1% in December, easing from a revised 0.2% increase in November. For the fourth quarter of 2025, GDP rose 0.1%, matching the pace recorded in the third quarter. That left full-year growth at 1.0% for 2025, marginally below the 1.1% registered in 2024.
Schroders rallies on Nuveen deal
Shares in Schroders jumped about 28.6% after the fund manager accepted a £9.9 billion all-cash offer from Nuveen, creating an investment group overseeing close to $2.5 trillion in assets.
The company also unveiled strong annual results. Adjusted operating profit climbed 25% to £756.6 million for the year to December 31, up from £603.1 million the previous year. Statutory profit before tax increased 21% to £673.8 million, while adjusted basic earnings per share rose 29% to 36.6 pence.
Earnings in focus
RELX plc (LSE:REL) edged 0.2% higher after posting solid 2025 figures, with underlying revenue up 7% to £9.59 billion and adjusted operating profit rising 9% to £3.34 billion. Operating margin improved to 34.8% from 33.9%.
British American Tobacco (LSE:BATS) reported a slight beat for its 2025 financial year, delivering organic sales growth of 2.1%, ahead of the 1.9% consensus estimate. The group reiterated guidance at the lower end of its medium-term range, and its shares slipped 1.8% in afternoon trade.
Ashmore Group plc (LSE:ASHM) posted a 64% rise in pre-tax profit to £81.9 million for the six months to December 31, 2025, as assets under management increased 10% to $52.5 billion. The stock added 0.6%.
Meanwhile, Unilever plc (LSE:ULVR) fell 1.7% despite meeting full-year sales expectations at €50.50 billion and announcing a €1.5 billion share buyback. Analysts flagged concerns over whether the group can deliver on its 2026 margin and growth ambitions.
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