Records fall as FTSE 100 surges past 10,400
Another jump in share prices makes the UK index one of the world’s best performers so far in 2026. City writer Graeme Evans names the biggest winners so far.
4th February 2026 15:27
by Graeme Evans from interactive investor
The sight of GSK (LSE:GSK) above 2,000p today capped another record-breaking session as BP (LSE:BP.), Shell (LSE:SHEL), BT Group (LSE:BT.A) and Vodafone Group (LSE:VOD) also helped the FTSE 100 index top 10,400 for the first time.
The blue-chip benchmark jumped by 1.5% to peak at 10,481.54, despite another mixed Wall Street session on the back of yesterday’s AI disruption jitters.
- Invest with ii: SIPP Account | Stocks & Shares ISA | See all Investment Accounts
The UK market’s leaning towards the commodities sector, which accounts for about 25% of earnings in the FTSE 100, continues to underpin the outperformance.
Merger speculation and stronger metal prices on the back of a weaker dollar mean Rio Tinto Ordinary Shares (LSE:RIO), Glencore (LSE:GLEN) and Anglo American (LSE:AAL) are now up by between 20% and 30% this year.
BP has added 10% over the same period after the outlook for shareholder distributions benefited from Brent crude’s biggest monthly jump in four years during January.
Shell, which is due to report fourth-quarter results on Thursday, added another 52p in today’s session to move within sight of the record high set in mid-2024.
GSK today traded above 2,000p for the first time in over two decades as investors welcomed the company’s 2026 guidance, including plans to lift the total dividend by 6% to 70p a share.
- AI software sell-off: will FTSE 100 losers bounce back?
- GSK shares healthy after annual results
- Gold and silver prices: what the City thinks will happen next
- Is this lofty Lloyds Bank price target justified?
Telcos appeared to have benefited from the flight from the software and financial data sector after Vodafone and BT Group shares rose sharply on the eve of their trading updates.
Resurgent Vodafone shares have rallied by more than 15% this year, which ranks the mobile phone company alongside the year-to-date performance of other widely held stocks Lloyds Banking Group (LSE:LLOY), Centrica (LSE:CNA) and Marks & Spencer Group (LSE:MKS).
Specialty insurer Beazley (LSE:BEZ) has delivered the biggest advance at more than 50% after its board said today it was inclined to back a sweetened offer from suitor Zurich Insurance Group AG (SIX:ZURN).
The £8 billion approach comprises 1,310p a share plus 25p dividend, up from last month’s 1,280p a share that Beazley said materially undervalued the company and its prospects.
Peel Hunt said the planned deal price looked to be fair: “This is a strategic deal that in our view makes sense both for Zurich and Beazley, which would become a leading specialty insurance business within the Zurich Group, writing $15 billion (£11 billion) of premium income.”
Biggest FTSE 100 risers
Company | Price | Share price today (%) | Share price in 2026 (%) | 1 month change (%) | 1 year change (%) | Forecast dividend yield (%) | Forecast PE |
647.1p | 10.3 | -15.6 | -16.1 | -11.9 | 3.4 | 10.0 | |
5075p | 9.4 | 9.6 | 11.7 | -7.6 | 4.6 | 11.0 | |
1255.5p | 8.2 | 50.9 | 53.7 | 53.6 | 2.2 | 10.7 | |
2070.5p | 6.4 | 13.5 | 13.0 | 50.0 | 3.3 | 11.5 | |
2849p | 5.0 | 5.7 | 3.9 | -11.3 | 4.1 | 19.0 | |
4372p | 5.0 | 12.0 | 11.2 | 14.6 | 3.3 | 12.5 | |
895.7p | 4.5 | -1.4 | -2.5 | -28.6 | 5.0 | 15.4 | |
352.95p | 4.5 | 12.9 | 11.6 | 46.5 | 3.7 | 14.4 | |
202.55p | 4.4 | 10.1 | 10.2 | 42.8 | 4.3 | 10.8 | |
453.3p | 4.1 | 2.6 | 2.5 | 20.1 | 3.3 | 15.4 |
Source: ShareScope. Past performance is not a guide to future performance.
Two of the smallest companies in the FTSE 100 featured alongside Beazley at the top of today’s risers board.
Ladbrokes owner Entain (LSE:ENT) surged 46.8p to 833.4p after its BetMGM US joint venture reported strong fourth-quarter trading across its iGaming and online sports operations.
BetMGM chief executive Adam Greenblatt added: “2025 was a record year for BetMGM, outperforming expectations with the execution of our refined strategy coming together at scale.”
Net revenues rose by a third to $2.8 billion in 2025 and are seen lifting to $3.1-3.2 billion in the current year. The company continues to target $500 million of adjusted earnings in 2027, up from the $300-350 million forecast for this year and last year’s $220 million.
- Are high fees chipping away at your investment returns?
- Stockwatch: time to buy Relx shares after fresh plunge?
- Sign up to our free newsletter for investment ideas, latest news and award-winning analysis
DCC (LSE:DCC) shares advanced by 435p to 5,075p after the energy-focused sales, marketing and support services group said operating profit grew strongly in the third quarter.
It said the implementation of its strategy announced in November 2024 to focus on DCC Energy as the largest and highest-returning division of the group was almost complete, with an agreement for the sale of DCC Technology due by the end of 2026.
Peel Hunt retained its Buy recommendation and price target of 5,635p following the update. It said strong market positions, a solid balance sheet and cash generation meant that DCC is well positioned to deliver its 2030 Energy earnings target of about £830 million.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.