The FTSE 100 opened lower on Thursday but remained near record highs, reflecting market consolidation after recent gains. The British pound weakened slightly against the dollar, falling to $1.3533 from $1.3533, while the blue-chip index slipped 0.08%. This cautious start occurred despite strong performances from major companies like London Stock Exchange Group and Rolls-Royce, whose earnings reports dominated the day's focus. LSEG reported a significant 56.5% jump in pretax profit for 2025, reaching £1.97 billion from £1.26 billion a year earlier, alongside £3 billion in new share buybacks. Rolls-Royce also delivered robust results, posting a 40% increase in annual underlying operating profit to £3.46 billion, driven by strong aero-engine performance and a 17.3% margin, alongside £3.3 billion in free cash flow.

Other notable updates included WPP's strategic pivot under Elevate28, simplifying its structure into four units and aiming for organic growth after underperformance. Hikma Pharmaceuticals provided 2026 guidance below market expectations, projecting lower sales growth and EBIT margins. Ocado reported solid second-half results and positive free cash flow projections, while Derwent London saw its net asset value rise 2.4% and signed new leases. Drax Group reported record renewable power generation but lower operating profit, while Greencoat UK Wind's NAV fell 4.9% due to subsidy rebasing.

The earnings season continues to shape market sentiment, with investors weighing strong results from some sectors against cautious outlooks from others like Hikma and Greencoat.