{"id":104596,"date":"2026-01-09T12:33:47","date_gmt":"2026-01-09T17:33:47","guid":{"rendered":"https:\/\/www.businessupturn.com\/usa\/?p=104596"},"modified":"2026-01-09T12:16:34","modified_gmt":"2026-01-09T17:16:34","slug":"uk-shares-rise-as-pound-slips-and-big-corporate-news-breaks","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/usa\/uk-shares-rise-as-pound-slips-and-big-corporate-news-breaks\/104596\/","title":{"rendered":"UK shares rise as pound slips and big corporate news breaks"},"content":{"rendered":"
\n
*]:pointer-events-auto scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]\" dir=\"auto\" data-turn-id=\"request-WEB:a47e6f8d-e223-466c-b91e-9b191d4ab1c9-20\" data-testid=\"conversation-turn-10\" data-scroll-anchor=\"true\" data-turn=\"assistant\">\n
\n
\n
\n
\n
\n
\n

British stocks ended higher on Friday. This snapped a two day losing streak. The pound stayed weak, which helped support large exporters. Investors also reacted to several major company updates.<\/p>\n

The FTSE 100 closed up 0.8%. At the same time, the pound slipped 0.2% against the U.S. dollar to 1.34. European markets were also positive. Germany\u2019s DAX rose 0.5%. France\u2019s CAC 40 jumped 1.4%.<\/p>\n

Mining stocks drew strong attention after news involving Glencore and Rio Tinto. Both companies confirmed they are in early talks about a possible merger. The discussions could involve some or all of their businesses.<\/p>\n

The deal would likely see Rio Tinto take over Glencore through a UK court approved process. Under takeover rules, Rio Tinto must decide whether to make a formal offer by February 5.<\/p>\n

Analysts believe Rio Tinto may be targeting Glencore\u2019s copper assets. These include major mines like Collahuasi and Antamina. Copper is seen as a key growth metal for the future. For Glencore, the deal could give large shareholders a way to exit. It could also allow the company to focus more on its trading and marketing operations.<\/p>\n

Retail stocks also made headlines. Sainsbury\u2019s raised its cash flow forecast after strong Christmas sales. Grocery demand was especially strong during the holiday period.<\/p>\n

The supermarket now expects retail free cash flow to be above \u00a3550 million for the year. This is higher than its earlier outlook. Over the 16 weeks to January 3, total retail sales excluding fuel rose 3.9%. Like for like sales were up 3.4%.<\/p>\n

Unite Group said trading remains in line with expectations. The student housing company reaffirmed its full year guidance. Demand for student accommodation remains steady.<\/p>\n

Unite kept its earnings forecast for 2025 unchanged. Fourth quarter performance met expectations. Results were helped by a one time management fee from a university partnership. The company also cut head office staff costs by about 20% after completing a restructuring.<\/p>\n

Looking ahead, Unite said demand for the 2026 to 2027 academic year looks stable. It also noted small declines in property valuations during the final quarter.<\/p>\n

Airlines group IAG also made news. The company said its chief financial officer, Nicholas Cadbury, will step down in mid 2026. He has been with the group since early 2022.<\/p>\n

IAG named Jos\u00e9 Antonio Barrionuevo as his successor. Barrionuevo currently serves as CFO and transformation officer at British Airways.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

British stocks ended higher on Friday. This snapped a two day losing streak. The pound stayed weak, which helped support\u2026<\/p>\n","protected":false},"author":294,"featured_media":104597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[22600],"class_list":["post-104596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets","tag-ftse-100"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/104596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/294"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=104596"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/104596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/104597"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=104596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=104596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=104596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}