FTSE 100 futures traded 25.0 points higher early Thursday, pointing to a 0.2% increase at the start of London trading. The main index of top UK shares ended Wednesday up 1.2% at 10,686.18.

Rio Tinto reported a drop in 2025 pretax profit despite revenue growth, hit by higher operating and finance costs. The miner, based in London and Melbourne, saw pretax profit fall 6.7% to $14.57 billion for the year through December 31, down from $15.62 billion a year earlier. Diluted earnings per share slid 14% to 608.4 U.S. cents from 707.2 cents. Even so, Rio Tinto raised its final dividend 13% to 254 cents per share, holding the full-year payout steady at 402 cents.

Sterling fell to $1.3500 early Thursday from $1.3548 at the London stock close Wednesday. The euro eased to $1.1799 from $1.1813, while the dollar strengthened against the yen at ¥155.04, up from ¥154.38.

Wall Street closed higher Wednesday. The Dow Jones Industrial Average added 129.47 points, or 0.3%. The S&P 500 rose 0.6%, and the Nasdaq Composite gained 0.8%.

Federal Reserve minutes from the January Federal Open Market Committee meeting showed divided opinions on artificial intelligence. The Fed kept its federal funds rate target at 3.50% to 3.75%. Ten of 12 FOMC members backed the hold; Stephen Miran and Christopher Waller pushed for a 25 basis-point cut.

Participants noted inflation stayed somewhat elevated, with economic activity expanding solidly, according to the minutes. Several pointed to strong AI-related investment and recent productivity gains as supports for growth. Others flagged risks in the AI sector: elevated equity valuations, heavy concentration in a few firms, and rising debt financing.

Asia mixed Thursday. Tokyo’s Nikkei 225 climbed 0.6%. Hong Kong and China markets stayed shut for Lunar New Year. Sydney’s S&P/ASX 200 finished up 0.9%.

Gold pushed higher to $5,018.53 per ounce early Thursday from $5,002.90 Wednesday. Brent crude rose to $70.42 a barrel from $69.62.

Corporate earnings roll in Thursday with full-year results from Centrica and Mondi. On the economic front, eurozone consumer confidence data lands alongside U.S. initial jobless claims.