Business
FTSE 100 closes in the green as UK plans big missile spend
Stock prices in London closed mostly higher on Friday following the news that US consumer inflation slowed more than expected last month.
The US annual CPI rate stood at 2.4% on-year in January, lower than 2.7% in December and below the FXStreet-cited consensus of a softer deceleration to 2.5%.
Monthly, consumer prices rose 0.2% after a 0.3% increase in December, below the consensus for another 0.3% increase.
The annual core index that strips out food and energy was up 2.5% as expected in January, slowed from 2.6%. Monthly, core goods prices were up 0.3%, also as expected, and accelerated from 0.2%.
The FTSE 100 index closed up 43.91 points, 0.4%, at 10,446.35. The FTSE 250 ended up 122.28 points, 0.5%, at 23,427.27, and the AIM all-share closed up 0.69 points, 0.1%, at 811.85.
NatWest was the lowest blue-chip, down 4.1% despite reporting better-than-expected annual results.
The Edinburgh-based lender reported £16.64 billion in total income for 2025, up 13% on-year and ahead of analyst consensus of £16.53 billion. Operating pretax profit increased 24% to £7.71 billion, also surpassing the consensus estimate of £7.49 billion.
Noting that NatWest’s results were “strong”, Shore said: “The print reinforces NatWest as a high‑teens‑return on tangible equity, capital‑generative UK franchise with growing tangible net asset value, benign credit trends, disciplined cost control and clear headroom for dividends and buybacks.”
On AIM, EPE Special Opportunities closed 9.8% higher.
The Epic Investment Partners-managed firm announced plans to undertake up to £3.0 million in share buybacks, using existing cash reserves. It said the programme may exceed 25% of the average daily trading volume, due to the low liquidity of its shares in issue.
Tern was down 10%, after launching an open offer to raise up to £384,408 through the issue of up to 96.1 million shares at 0.40 pence each, a 20% discount to the prior closing price.
Tern says the offer was not underwritten, and that shareholders are entitled to subscribe on the basis of one new share for every seven held.
In other UK news, Britain will spend £400 million developing long-range missiles this year as part of “a new deal for European security”, Defence Secretary John Healey has announced.
The funds will go toward replacing the Storm Shadow missile, including the Stratus “stealth” missile being developed with France and Italy, and the Deep Precision Strike system being built with Germany.
Mr Healey is expected to discuss both projects, as well as further industrial cooperation with European allies, at the Munich Security Conference, which began on Friday.
Defence stocks climbed as Melrose Industries was 3.7% higher, Rolls-Royce was up 3.6%, while BAE Systems climbed 2.2%.
In European equities on Friday, the Cac 40 in Paris closed down 0.4%, while the Dax 40 in Frankfurt was up 0.2%.
The pound was quoted at 1.3626 dollars at the time of the London equities close on Friday, slightly down from 1.3628 on Thursday. The euro stood at 1.1868 dollars, almost flat against 1.1869.
Stocks in New York were higher. The Dow Jones Industrial Average was up 0.3%, the S&P 500 index up 0.3%, and the Nasdaq Composite up marginally.
The yield on the US 10-year Treasury was quoted at 4.06%, narrowing from 4.12%. The yield on the US 30-year Treasury was quoted at 4.70%, narrowing from 4.76%.
Brent oil was quoted at 67.48 dollars a barrel at the time of the London equities close on Friday, down from 68.08 late Thursday.
The biggest risers on the FTSE 100 were 3i, up 142.20p at 3,411.40p, Melrose, up 23.17p at 646.17p, Rolls-Royce, up 44.38p at 1,270.38p, Halma, up 134.00p at 3,876.00p, and Fresnillo, up 90.00p at 3,858.00p.
The biggest fallers on the FTSE 100 were NatWest, down 24.40p at 570.60p, Barclays, down 13.51p at 450.09p, Entain, down 16.87p at 578.33p, Croda, down 77.00p at 3,056.00p, and HSBC, down 26.49p at 1,240.11p.
On Monday’s economic calendar, US markets are closed to mark George Washington’s Birthday. The eurozone and Japan release industrial production data.
On Monday’s UK corporate calendar, no significant events are currently scheduled.
Oil and Gas Regulatory Authority (OGRA) forwarded a summary to the federal government suggesting an increase of Rs4.39 per liter in petrol price for the next fortnight.
After approval from the federal government, one liter of petrol will be sold at Rs257.56 instead of Rs253.17 per liter.
The price of high-speed diesel (HSD) will be increased by Rs5.40 per liter.
After approval, the price of one liter of high-speed diesel will increase by Rs268.38 to Rs273.78.
The proposal to increase the price of kerosene by Rs4 per liter is also on the cards.
The OGRA also recommended increasing the price of one liter of light diesel by Rs6.55.
The new prices of petroleum products will be effective from February 16, 2026.
Due to tension between the USA and Iran, petroleum prices are likely to increase further.
The group, based in Solihull and Wolverhampton, says its vet bills are costing them more.
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RBI releases draft to revise Kisan Credit Card Scheme, standardizing crop cycles, extending loan tenure to six years, and aligning credit limits with cultivation costs.
From Crop Cycles To Loan Tenure: 4 Key Changes In RBI’s KCC Proposal
Kisan Credit Card Scheme: The Reserve Bank of India (RBI) has released draft directions to revise the Kisan Credit Card (KCC) Scheme, aiming to expand coverage, streamline operations, and align credit norms with evolving agricultural needs.
Standardized Crop Cycles And Extended Loan Tenure
As outlined in the draft, crop seasons have been standardized to introduce uniformity in loan sanctioning and repayment schedules. Short-duration crops will now be treated under a 12-month cycle, while long-duration crops will follow an 18-month cycle.
Example:
A farmer growing paddy or wheat (harvested in a few months) will follow a 12-month loan cycle.
A farmer growing sugarcane (which takes 12–18 months) will get an 18-month cycle.
To better align loan tenure with these crop cycles, especially for longer-duration crops, the overall tenure of the KCC facility has been extended to six years. The move is expected to provide farmers with greater flexibility in repayment and reduce rollover pressures.
Example:
If a farmer growing sugarcane faces a bad monsoon in Year 2, he doesn’t have to rush repayment immediately. The 6-year window gives more breathing space and reduces pressure to take fresh loans to repay old ones.
The draft directions apply to Commercial Banks, Small Finance Banks, Regional Rural Banks, and Rural Co-operative Banks, indicating a system-wide implementation once finalized.
Drawing Limits Linked To Cost Of Cultivation
The RBI has proposed aligning drawing limits under the KCC scheme with the scale of finance for each crop season . This adjustment aims to ensure that farmers receive credit in line with the actual cost of cultivation, addressing concerns around under-financing.
Example:
If growing cotton in a district costs Rs 60,000 per acre (as per agriculture department data), banks will align KCC limits accordingly — instead of giving a lower, outdated amount like Rs 40,000.
In addition, the draft expands eligible components under the KCC framework. Expenses related to technological interventions—such as soil testing, real-time weather forecasts, and certification for organic or good agricultural practices—have been included within the existing 20% additional component earmarked for repairs and maintenance of farm assets .
Example:
If a farmer wants to:
- Test soil before sowing
- Subscribe to real-time weather alerts
- Get organic farming certification
These costs can now be covered under KCC instead of paying from pocket.
What Is Kisan Credit Card Scheme?
The Kisan Credit Card scheme aims at providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedures to the farmers for their cultivation and other needs.
The KCC scheme was introduced in 1998 for the issue of Kisan Credit Cards to farmers on the basis of their holdings for uniform adoption by the banks so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides etc. and draw cash for their production needs.
KCC covers post-harvest expenses, produce marketing loan, consumption requirements of farmer households, working capital for maintenance of farm assets and activities allied to agriculture, investment credit requirement for agriculture and allied activities.
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February 14, 2026, 12:49 IST
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