FTSE 100 retreats from record highs as weak corporate earnings weigh on London shares

London's FTSE 100 index retreated from its recent record-breaking streak on Thursday, as a disappointing earnings report from a major mining constituent and escalating geopolitical tensions dampened investor sentiment. The blue-chip index fell 0.7% on February 19, 2026, ending a period of optimism that had seen the market close at record highs for two consecutive sessions immediately prior.

The primary trigger for the decline was the performance of Rio Tinto Group RIO.L, which saw its shares drop by 4.4% after reporting annual earnings that missed analyst expectations. The miner reported flat annual earnings, as weakness in its iron ore business was offset by strong performance in its copper division. This earnings miss by a major blue-chip constituent weighed heavily on the broader index and affected individual blue-chip performance across the United Kingdom GB.