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A review of the FTSE 100’s 10 biggest risers over the past year contains some familiar names. For example, Rolls-Royce Holdings came top in 2023, and finished second in 2024. Although many believe the group’s stock is expensive, its 2025 share price gain was higher than that achieved a year earlier.
I doubt whether it will make the top 10 in 2026, but the group has a recent history of proving sceptics wrong.
| Stock | Share price change 2025 (%) |
|---|---|
| Fresnillo | +445 |
| Airtel Africa (LSE:AAF) | +209 |
| Endeavour Mining | +176 |
| Babcock International Group | +148 |
| Antofagasta | +106 |
| Rolls-Royce Holdings | +103 |
| Standard Chartered | +86 |
| Prudential | +81 |
| Barclays | +80 |
| Lloyds Banking Group | +80 |
Similarly, Barclays and Standard Chartered appear again having been placed fifth and ninth respectively in 2024. They are joined by a third bank, Lloyds Banking Group, whose shares closed 2025 a fraction below the psychologically important — although largely meaningless — 100p barrier.
Another financial institution, Prudential, was the eighth-best performer helped by an improved economic situation in China, and Asia in general. The lesson from April 2025 is that much will depend on President Trump’s US trade policy. These four stocks are particularly sensitive to the fortunes of the economies of the biggest markets in which they operate.
Given soaring gold (up 63%), silver (42% higher), and copper (a 41% gain) prices in 2025, it’s no surprise that miners Fresnillo, Endeavour Mining and Antofagasta did well. With so much uncertainty surrounding commodity prices, it’s impossible to know how these stocks will perform in 2026. However, the consensus of economists appears to be that metals prices will remain above historical levels.
The shares of Babcock International Group were helped by the UK (and other NATO members) pledging to spend significantly more on defence between now and 2035. The group’s likely to continue to be one of the beneficiaries of the dangerous world in which we live.
And finally…
The last member of the top 10 is Airtel Africa. And it’s one that I think’s worth considering for 2026.
That’s because the biggest problem for most businesses is finding new customers. But the telecoms group operates in 14 countries on a continent that the United Nations says will double its population by 2070.
In particular, the group has a significant presence in Nigeria, which is forecast to become the world’s third most populous country by 2050, and the Democratic Republic of Congo, which has Africa’s highest growth rate.
And what do young people seem to want more than anything else? Yes, a mobile phone.
But Airtel Africa also provides a mobile money service. Using a smartphone is the only way the vast majority of people in sub-Sharan Africa have access to banking services. The group’s expected to spin off this division in the first half of 2026.
However, operating in the region has its challenges. Political instability could affect the regulatory regime in key markets. And economic volatility can lead to wild currency fluctuations. Also, telecoms infrastructure isn’t cheap.
Despite these risks, the group’s expected to continue to grow rapidly. By the year ending 31 March 2028 (FY28), the consensus of analysts is for revenue to grow by 60% compared to FY24. Over the same period, EBITDA (earnings before interest, tax, depreciation, and amortisation), and free cash flow are forecast to be 72% and 85% higher respectively.
Although I doubt Airtel Africa’s share price will do as well in 2026 as it did in 2025, I think it will outperform the wider FTSE 100. On this basis, I reckon it’s worth considering.
