FTSE 100 Live: Heathrow Traffic Record; Homebuilders Call for Help
•February 11, 2026
0
Companies Mentioned
Why It Matters
The moves signal shifting capital allocation in the energy sector and potential instability in UK banking leadership, which could weigh on investor confidence and FTSE performance.
Key Takeaways
- •BP halts $2bn share buyback, boosts oil investment.
- •BP targets higher cost cuts for next fiscal year.
- •Standard Chartered CFO leaves for Apollo, leadership gap.
- •FTSE 100 down 0.3% amid corporate setbacks.
- •Investors eye banking and energy sector volatility.
Pulse Analysis
The FTSE 100’s modest 0.3% decline reflects a broader risk‑off mood among UK investors. After a week of mixed earnings, the index is being pulled lower by sector‑specific headlines rather than macro‑economic data. Energy, finance and industrial stocks have been the primary drag, prompting market participants to reassess exposure to companies with uncertain growth narratives. This environment heightens the importance of earnings guidance and corporate governance signals as investors seek stability.
BP’s decision to suspend its share buyback programme marks a strategic pivot toward reinforcing its upstream portfolio. By redirecting cash into oil production and tightening cost structures, the oil major aims to improve free cash flow amid volatile commodity prices. The move also signals to shareholders that BP is prioritising long‑term asset investment over short‑term price support, a stance that could influence peer companies facing similar capital allocation dilemmas. Analysts note that while the suspension may depress the stock in the near term, the underlying production upgrades could enhance earnings resilience if oil markets stabilize.
In the banking sector, Standard Chartered’s finance chief Diego De Giorgi’s exit for Apollo introduces a leadership vacuum at a critical juncture. The departure raises questions about succession planning and the bank’s strategic direction across Europe, the Middle East and Africa. With UK banks already under pressure from regulatory changes and margin compression, such senior‑level turnover can exacerbate market uncertainty. Investors will be watching how quickly the bank appoints a replacement and whether the new finance lead can sustain momentum on cost‑efficiency initiatives while navigating a challenging credit environment.
FTSE 100 Live: Heathrow traffic record; Homebuilders call for help
Good morning and welcome back to the City AM liveblog.
Yesterday the FTSE 100 retreated on a slew of miserable corporate news.
Leading the blue-chip index’s downturn was BP, which announced it would suspend its share buyback programme and increase cost-cutting goals as it looks to reverse its fortunes in the next financial year.
The company said the decision was taken to allow it to increase investment into its oil production business and “fully allocate excess cash” to its balance sheet.
It’s a far cry from its 1990s “golden era,” when the group was considered one of the largest energy companies in the world, luring investors with several years of strong annual growth.
Adam Vessette, market analyst at Etoro, said: “BP’s results underline a business that is holding up operationally, but still struggling to convince investors it has a clear growth story.”
Meanwhile, shortly behind BP’s six per cent loss was Standard Chartered at five per cent.
The bank’s stock slumped on the news finance boss Diego De Giorgi had stepped down to go lead Apollo’s European, Middle East and Africas region.
“Whilst banks are ultimately run by many more people than the key C-suite members, this departure is a particular blow for Standard Chartered in our view,” analysts at Jefferies said.
Giorgi was also being viewed as a top contender by investors to succeed chief executive Bill Winters – who is the longest-standing banking boss among the big British banks.
Under the pressure of the bad corporate news the FTSE 100 slipped 0.3 per cent with losses also seen across Babcock, St. James’s Place and Antofagasta.
Will the blue-chip index be back on the march today or does more negative news await?
We’ll be bringing you the top stories of the morning as we get them.
Here’s a few of our top stories from yesterday:
-
Defence and AI drive Europe’s venture capital rebound
-
Paramount woos Warner Bros investors with regulatory delay payout
-
Services sector rebound expected to help economy limp towards growth
-
Law Society slams Labour’s ‘crude’ stealth tax on legal clients
-
Allow pensions savings to go into housing deposits, says FCA chief
The liveblog has ended.
No liveblog updates yet.
Load more
0
Comments
Want to join the conversation?
Loading comments...