Stock Markets January 29, 2026

London Stocks Close Slightly Higher as Financials, Energy and Mining Lead Gains

UK 100 edges up 0.12% as select miners and oil majors outperform while construction and precious metals names lag

By Ajmal Hussain III SHEL AHT
London Stocks Close Slightly Higher as Financials, Energy and Mining Lead Gains
III SHEL AHT

U.K. equities finished modestly higher on Thursday, with the Investing.com United Kingdom 100 rising 0.12%. Strength in Financial Services, Oil & Gas Producers and Industrial Metals & Mining underpinned the advance, while several construction and precious-metals linked firms weighed on breadth. Commodities saw mixed moves, with crude oil rising and gold slipping.

Key Points

  • Investing.com United Kingdom 100 closed up 0.12% as gains in Financial Services, Oil & Gas Producers and Industrial Metals & Mining supported the market.
  • Top performers included 3I Group PLC (III), Shell PLC (SHEL) and Antofagasta PLC (ANTO); Antofagasta reached an all-time high.
  • Weakness was concentrated in Ashtead Group PLC (AHT), Fresnillo PLC (FRES) and Sage Group PLC (SGE); market breadth saw decliners outnumber advancers 991 to 825.

London's market closed with a modest uptick on Thursday, driven by gains in Financial Services, Oil & Gas Producers and Industrial Metals & Mining stocks.

At the market close in London the Investing.com United Kingdom 100 index was up 0.12%.

The top performer on the index was 3I Group PLC (LON:III), which climbed 8.77% - a rise of 276.00 points - to finish at 3,423.00. Shell PLC (LON:SHEL) added 2.38% or 65.00 points, closing at 2,797.50. Miners also featured among the leaders, with Antofagasta PLC (LON:ANTO) gaining 2.10% or 78.00 points to end the day at 3,786.00.

On the downside, Ashtead Group PLC (LON:AHT) was the weakest large-cap, sliding 5.38% or 275.10 points to close at 4,836.90. Precious-metals miner Fresnillo PLC (LON:FRES) declined 5.25% or 216.00 points to finish at 3,900.00, while Sage Group PLC (LON:SGE) fell 4.06% or 40.40 points to 955.00.

Market breadth was negative at the end of trading: decliners outnumbered advancers on the London Stock Exchange by 991 to 825, and 499 stocks finished unchanged.

Antofagasta PLC (LON:ANTO) reached an all-time high during the session, closing 2.10% higher at 3,786.00.

Commodity markets showed divergent moves: Gold futures for April delivery were down 0.25% or 13.21, trading at 5,326.99 per troy ounce. In contrast, crude oil prices strengthened - the March WTI contract rose 2.99% or 1.89 to $65.10 a barrel, while the April Brent contract increased 2.70% or 1.82 to $69.19 a barrel.

In currency trading, GBP/USD was essentially flat, changing by 0.01% to 1.38, and EUR/GBP was also unchanged at 0.87. The US Dollar Index Futures declined 0.16% to 96.12.


Market takeaway - The session was characterized by selective strength among resource and energy names, offset by notable weakness in construction-equipment and precious-metals linked stocks. Overall index movement was modest despite the clear winners and losers within sectors.

Risks

  • Market breadth was negative with more decliners than advancers, indicating uneven participation across sectors - this impacts Financials, Mining and Industrials.
  • Declines in major names such as Ashtead and Fresnillo introduce downside risk for construction-related and precious-metals sectors.
  • Volatility in commodity prices - while oil rose sharply, gold fell - posing uncertainty for energy and metals-linked companies.

More from Stock Markets

Moody's Raises Twilio to Ba1, Cites Growth Trajectory and Conservative Financial Discipline Feb 2, 2026 Moody's Raises OUTFRONT Media Credit Rating to Ba3, Citing Lower Leverage and Digital Push Feb 2, 2026 Moody's Moves Mister Car Wash Outlook to Positive as Credit Metrics Improve Feb 2, 2026 S&P Elevates SM Energy to BB After Civitas Deal, Cites Bigger Footprint and Diversification Feb 2, 2026 NXP Sees Strong Start to Quarter, Cites Automotive Strength and Stable Industrial Demand Feb 2, 2026