Business
FTSE 100 edges lower in quiet end of year trade
Stock prices in London closed mixed on Monday, after a day of quiet trading at the start of another holiday-shortened week, as FTSE 250 firm International Personal Finance agreed to a £543 million takeover.
The FTSE 100 index closed down 4.15 points at 9,866.53. The FTSE 250 index ended up 93.01 points, 0.4%, at 22,407.51, and the AIM All-Share closed down 0.09 points at 760.14.
In European equities on Monday, the CAC 40 in Paris closed up 0.1%, while the DAX 40 in Frankfurt ended 0.1% higher.
The pound was quoted at 1.3491 dollars at the time of the London equities close on Monday, down from 1.3510 dollars at the time of the early London equities close on Wednesday. The euro was lower at 1.1757 dollars from 1.1790 dollars. Against the yen, the dollar was trading at 156.04 yen, up from 155.92 yen.
Late on Friday, around the time of the closing bell on the New York Stock Exchange, the pound traded at 1.3504 dollars, the euro at 1.1780 dollars, and the dollar bought 156.50 yen.
London’s financial markets opened on Monday for the first time since last Wednesday, after closing for Christmas Day and Boxing Day.
The markets will close early this Wednesday, before the New Year’s Day holiday on Thursday. The market reopens on Friday for a full trading day.
This week’s global economic calendar has minutes from the December Federal Open Market Committee meeting on Tuesday, before a swathe of manufacturing PMI readings on Friday.
Stocks in New York were lower. The Dow Jones Industrial Average was down 0.5%, the S&P 500 index retreated 0.5%, and the Nasdaq Composite fell 0.7%.
The yield on the US 10-year Treasury was quoted at 4.12%, narrowing from 4.16% on Wednesday. The yield on the US 30-year Treasury was quoted at 4.80%, slimmed from 4.82%.
Pending home sales in the US grew by more than expected in November.
According to the National Association of Realtors, pending home sales rose 3.3% on-month in November. This figure surpassed the FXStreet-cited consensus, which had projected a rise of 1.0% during the month.
On a year-over-year basis, pending home sales increased by 2.6%.
According to NAR chief economist Lawrence Yun, “homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023”.
Brent oil was down at 61.48 dollars a barrel at the time of the London equities close on Monday from 62.58 dollars at the time of the early London equities close on Wednesday. However, it was up from 60.32 dollars at the time of the New York equities close on Friday.
Gold bought 4,336.60 dollars an ounce at Monday’s close, down from 4,492.58 dollars on Wednesday and from 4,528.06 dollars on Friday. Gold had hit a record high above 4,549 dollars an ounce on Friday.
In London, International Personal Finance led the way on the FTSE 250 index as its shares jumped 5.9%. The firm said it has agreed a G£543 million all-cash takeover by BasePoint Capital, with the acquisition expected to complete in the third quarter of 2026.
Under the terms of the offer, IPF shareholders will receive 235 pence in cash for each share, valuing the provider of credit products and insurance services at around £543 million. IPF shares closed at 220.00p on Wednesday.
The offer represents a premium of around 31% to IPF’s closing share price of 179.2 pence on July 29, the last trading day before the company entered an offer period.
The agreed offer follows a series of approaches from BasePoint earlier this year. In September, IPF said it had received an improved indicative proposal of 235p per share, raised from an initial 220p approach made in July, and indicated at the time that its board would be minded to recommend the offer if a firm bid were made.
IPF’s board has unanimously recommended the offer, and completion of the acquisition is subject to shareholder approval.
Chairman Stuart Sinclair said: “Whilst the board continues to believe in the strategy and long-term prospects of IPF on a standalone basis, we recognise that the acquisition allows IPF shareholders to monetise their entire investment for cash at a fair price.
“We believe that the business will benefit from BasePoint’s ownership and its commitment to fulfil IPF’s purpose of building a better world through financial inclusion.”
Elsewhere, Everyman Media shares closed flat after chief executive Alex Scrimgeour stepped down with immediate effect, as analysts said “time had run out” for the boss after a profit warning and the resignation of the finance director earlier this month.
Mr Scrimgeour’s departure follows finance director Will Worsdell’s resignation two weeks ago. He is leaving at the end of March.
The London-based premium cinema chain has appointed Farah Golant, currently non-executive director, as the interim chief executive.
“Farah has extensive experience across the global creative, entertainment and media industries, and a track record of accelerating growth and cultivating high performance, results-oriented organisations,” said Philip Jacobson, the company’s non-executive chairman.
“Everyman has now lost both its chief executive and its finance director over the past fortnight,” said Dan Coatsworth, head of markets at AJ Bell. “That’s unfortunate timing and means the pressure is on to find a new leadership team fast.”
“The share price fell by 76% during his tenure and time had run out,” he added.
Mr Scrimgeour has stepped down after Everyman’s profit warning earlier this month, where it said it was “operating in a challenging economic environment” with recent UK box office performance “weaker than anticipated”.
“It’s fair to say that 2025 wasn’t a golden year for new film releases, making matters worse for Everyman. Its recent profit warning was blamed on a weak fourth quarter film state, and the release schedule for the next few months doesn’t instil much optimism,” said Mr Coatsworth.
The biggest risers on the FTSE 100 were Fresnillo, up 82.0 pence at 3,282.0p, Glencore, up 8.3p at 402.6p, Convatec, up 5.0p at 243.0p, Anglo American, up 57.0p at 3,069.0p, and Entain, up 14.0p at 764.6p.
The biggest fallers on the FTSE 100 were Babcock International, down 33.0p at 1,227.0p, Hiscox, down 21.0p at 1,407.0p, British American Tobacco, down 60.0p at 4,155.0p, BT Group, down 2.5p at 182.3p, and Halma, down 43.8p at 3,524.2p.
On Friday’s economic calendar are minutes from the latest meeting of the US Federal Open Market Committee as well as house price index figures for the US.
There are no events scheduled on Tuesday’s local corporate calendar.
– Contributed by Alliance News
Last Updated:
Anthropic’s AI tools have triggered a sharp decline in Indian IT stocks like TCS, Infosys, Wipro, eroding Rs 3,11,873 crore in market value.
Anthropic’s valuation surpassed combined value of total IT firms in India
The entire Information Technology (IT) industry in India is battering with the existential threat, which comes on the heels of rising generative AI, posing doubts over the viability of their business model.
Stocks of the IT industries, including Tata Consultancy Services (TCS), Infosys, Wipro, etc., hit brutally over the past week. This was triggered with the launch of new AI tools by Anthropic’s Claude for Cowork, which is like an office teammate helping the user to do tasks such as file sorting, reading legal drafts, etc.
Recommended Stories
-
From TCS To Infosys: Top IT Stocks Wipe Out Rs 3 Lakh Crore In Market Value
-
Black Friday For IT Stocks? TCS, Infosys, Wipro Seen Under Pressure As US Tech Slumps
-
Infosys, TCS, TechM And Other IT Stocks Slide Up To 5% On Renewed AI Concerns After US Jobs Data
-
Stocks To Watch: Coal India, IRCTC, SpiceJet, Wipro, Infosys, GAIL India, Biocon, And Others
Anthropic’s Valuation vs Nifty IT Index
Anthropic’s phenomenal valuation rise has surpassed the combined value of India’s top IT firms. Standing at a valuation of $380 billion, the US-based AI company has eclipsed India’s Nifty IT index, whose market cap was at $296.4 billion by the time of writing this report.
Investors are accelerating their exit from technology stocks as concerns intensify that advanced artificial intelligence tools could disrupt core segments of the global software and IT services industry.
This week alone, TCS, Infosys and HCL Technologies dragged 9-11 per cent.
The sharp correction has wiped out substantial investor wealth. Based on intraday lows, the combined market capitalisation of the top five domestic IT companies has eroded by nearly Rs 3,11,873 crore this week.
TCS emerged as the biggest laggard, losing Rs 1,28,800 crore in market value, with its market capitalisation slipping to Rs 9,35,253 crore. The fall also pushed it to the fifth-most valued listed company from the fourth position.
Infosys has seen its market capitalisation shrink by Rs 91,431 crore following a 15 per cent decline this week. HCL Technologies has lost Rs 53,647 crore in market value over the past five trading sessions. Wipro and Tech Mahindra have also recorded declines, with their market capitalisations falling by Rs 22,762 crore and Rs 15,233 crore, respectively, during the same period.
| Company Name | Mcap ($Billion) |
| Tata Consultancy Services | 107.4 |
| Infosys | 61.2 |
| HCL Technologies | 43.6 |
| Wipro | 24.8 |
| Tech Mahindra | 16.6 |
| LTIMindtree | 16.7 |
| Persistent Systems | 9.5 |
| Oracle Financial Services Soft | 6.4 |
| Coforge | 5 |
| Mphasis | 5.2 |
| Total | 296.4 |
Source: Bloomberg
Anthropic’s Recent Funding Round
Anthropic has recently raised $30 billion in Series G funding led by GIC and Coatue, valuing Anthropic at $380 billion post-money, as announced by the company in the press release.
The investment will fuel the frontier research, product development, and infrastructure expansions that have made Anthropic the market leader in enterprise AI and coding.
Click here to add News18 as your preferred news source on Google.
February 14, 2026, 09:15 IST
Read More
Business
Piyush Goyal Dismisses Rahul Gandhi’s Farmer Meet Video, Rebuts ‘Fake Narrative’ On India-US Trade Deal
Last Updated:
The minister offered a detailed reality check to counter what he termed ‘Rahul ji’s fakery’
Goyal reiterated that Prime Minister Narendra Modi’s policies are intrinsically linked to farmer welfare. (File Photo: PTI)
Union Commerce Minister Piyush Goyal has accused Congress leader Rahul Gandhi of orchestrating a “fake narrative” aimed at provoking India’s farming community. Responding to a video released on social media by the Leader of the Opposition on Friday, Goyal dismissed the interaction as a stage-managed performance featuring Congress activists masquerading as genuine farmer leaders. He asserted that the dialogue followed a predetermined script designed to mislead the public regarding the safeguards in the recent India-US trade deal.
Rahul Gandhi has alleged that “any trade deal that takes away the livelihood of farmers or weakens the food security of the country is anti-farmer”. He was pointing to the recently concluded India-US framework agreement for bilateral trade, which is expected to be signed after tweaks by the end of March.
Piyush Goyal offered a detailed reality check to counter what he termed “Rahul ji’s fakery”, placing on record that the Narendra Modi government has fully protected the interests of annadatas, fishermen, MSMEs, and artisans. The minister categorically clarified that sensitive crops like soyameal and maize have been granted no concessions whatsoever in the agreement, ensuring that domestic farmers remain shielded from competitive pressure. He criticised the opposition for repeating “baseless allegations” in an attempt to instill unnecessary fear among the rural population.
Addressing specific claims regarding apple and walnut imports, the minister provided a technical breakdown of the protectionist measures in place. He noted that while India already imports approximately 550,000 tonnes of apples annually due to high domestic demand, the new US deal does not allow unlimited entry. Instead, a strict quota has been established, far below current import levels, and subject to a Minimum Import Price (MIP) of Rs 80 per kg. With an additional duty of Rs 25, the landed cost of US apples will be roughly Rs 105 per kg—significantly higher than the current average landed cost of Rs 75 per kg from other nations—thereby ensuring Indian growers are not undercut. Similarly, for walnuts, the US has been offered a modest quota of 13,000 metric tonnes against India’s total annual import requirement of 60,000 metric tonnes, making it impossible for the deal to harm local producers.
Goyal also took a swipe at the historical record of the Congress party, pointing out the irony of its current stance. He reminded the public that during the Congress-led UPA era, India imported nearly $20 billion worth of agricultural products, including dairy items, which the current administration has strictly excluded from the US pact. He challenged Rahul Gandhi to explain his “betrayal of farmers” and questioned how much longer the opposition intended to peddle fabricated stories.
Concluding with the slogan “Kisan Surakshit Desh Viksit”, Goyal reiterated that Prime Minister Narendra Modi’s policies are intrinsically linked to farmer welfare. He maintained that the India-US agreement is a balanced framework that opens new markets for Indian exports like basmati rice and spices while keeping the nation’s agricultural backbone secure.
February 14, 2026, 05:29 IST
Read More
Mesh Cube | Istock | Getty Images
The stock market has been quick to punish software firms and other perceived losers from the artificial intelligence boom in recent weeks, but credit markets are likely to be the next place where AI disruption risk shows up, according to UBS analyst Matthew Mish.
Tens of billions of dollars in corporate loans are likely to default over the next year as companies, especially software and data services firms owned by private equity, get squeezed by the AI threat, Mish said in a Wednesday research note.
“We’re pricing in part of what we call a rapid, aggressive disruption scenario,” Mish, UBS head of credit strategy, told CNBC in an interview.
The UBS analyst said he and his colleagues have rushed to update their forecasts for this year and beyond because the latest models from Anthropic and OpenAI have sped up expectations of the arrival of AI disruption.
“The market has been slow to react because they didn’t really think it was going to happen this fast,” Mish said. “People are having to recalibrate the whole way that they look at evaluating credit for this disruption risk, because it’s not a ’27 or ’28 issue.”
Investor concerns around AI boiled over this month as the market shifted from viewing the technology as a rising tide story for technology companies to more of a winner-take-all dynamic where Anthropic, OpenAI and others threaten incumbents. Software firms were hit first and hardest, but a rolling series of sell-offs hit sectors as disparate as finance, real estate and trucking.
In his note, Mish and other UBS analysts lay out a baseline scenario in which borrowers of leveraged loans and private credit see a combined $75 billion to $120 billion in fresh defaults by the end of this year.
CNBC calculated those figures by using Mish’s estimates for increases of up to 2.5% and up to 4% in defaults for leveraged loans and private credit, respectively, by late 2026. Those are markets which he estimates to be $1.5 trillion and $2 trillion in size.
‘Credit crunch’?
But Mish also highlighted the possibility of a more sudden, painful AI transition in which defaults jump by twice the estimates for his base assumption, cutting off funding for many companies, he said. The scenario is what’s known in Wall Street jargon as a “tail risk.”
“The knock-on effect will be that you will have a credit crunch in loan markets,” he said. “You will have a broad repricing of leveraged credit, and you will have a shock to the system coming from credit.”
While the risks are rising, they will be governed by the timing of AI adoption by large corporations, the pace of AI model improvements and other uncertain factors, according to the UBS analyst.
“We’re not yet calling for that tail-risk scenario, but we are moving in that direction,” he said.
Leveraged loans and private credit are generally considered among the riskier corners of corporate credit, since they often finance below-investment-grade companies, many of them backed by private equity and carrying higher levels of debt.
When it comes to the AI trade, companies can be placed into three broad categories, according to Mish: The first are creators of the foundational large language models such as Anthropic and OpenAI, which are startups but could soon be large, publicly traded companies.
The second are investment-grade software firms like Salesforce and Adobe that have robust balance sheets and can implement AI to fend off challengers.
The last category is the cohort of private equity-owned software and data services companies with relatively high levels of debt.
“The winners of this entire transformation — if it really becomes, as we’re increasingly believing, a rapid and very disruptive or severe [change] — the winners are least likely to come from that third bucket,” Mish said.
Bangladesh–US tariff deal may have limited impact on India
Anthropic At $380 Billion Surpasses India’s Top IT Firms Combined As AI Fears Rock Stocks
Top 10 Valentine’s Day movies to stream in 2026
How a factory error in China created a viral “crying horse” Lunar New Year trend
New York Is the Latest State to Consider a Data Center Pause
Aye Finance IPO Day 2: GMP Remains Zero; Apply Or Not? Check Price, GMP, Financials, Recommendations
-
Entertainment1 week agoHow a factory error in China created a viral “crying horse” Lunar New Year trend
-
Tech1 week agoNew York Is the Latest State to Consider a Data Center Pause
-
Business4 days ago
Aye Finance IPO Day 2: GMP Remains Zero; Apply Or Not? Check Price, GMP, Financials, Recommendations
-
Tech1 week agoPrivate LTE/5G networks reached 6,500 deployments in 2025 | Computer Weekly
-
Tech1 week agoNordProtect Makes ID Theft Protection a Little Easier—if You Trust That It Works
-
Fashion4 days agoComment: Tariffs, capacity and timing reshape sourcing decisions
-
Business1 week agoStock market today: Here are the top gainers and losers on NSE, BSE on February 6 – check list – The Times of India
-
Business1 week agoMandelson’s lobbying firm cuts all ties with disgraced peer amid Epstein fallout