Shares of RELX PLC, the London-based information and analytics group, fell sharply in early trading on Wednesday, February 11, 2026, extending a recent downtrend that has brought the stock close to its lowest level in a year. The decline comes as investors await the company's full-year 2025 financial results, scheduled for release on Thursday, February 12.
By 08:30 GMT, RELX shares were trading at 2,078 pence on the London Stock Exchange, a drop of approximately 3% from Tuesday's closing price of 2,146 pence. The stock touched an intraday low of 2,071 pence, hovering just above its 52-week low. The company's U.S.-listed American Depositary Receipts (ADRs) also saw pressure, declining about 0.6% to $29.29.
The sell-off is part of a broader market reassessment of data and software companies perceived to have significant exposure to artificial intelligence. According to a recent analysis, both RELX and its peer Thomson Reuters have seen their share prices decline by roughly one-third since late 2025. Investors are grappling with concerns that rapid advancements in generative AI could undermine the pricing power and future growth trajectories of established data providers, as new AI-native startups emerge to challenge their business models.
This sentiment has contributed to a turbulent atmosphere in London's equity markets. On Tuesday, the FTSE 100 index declined 0.3%, weighed down by losses in major constituents like BP and Standard Chartered. The current environment has left market participants particularly sensitive to any signs that AI could disrupt high-margin, subscription-based revenue streams across multiple industries.
However, some analysts believe the market reaction may be overdone. In a recent note, JPMorgan strategists, led by Dubravko Lakos-Bujas, suggested that current valuations are pricing in worst-case AI disruption scenarios that are unlikely to materialize within the next three to six months. Similarly, Morgan Stanley's Katy Huberty characterized the recent volatility in software and data stock valuations as being driven more by sentiment than by fundamental changes in the underlying businesses.
Despite the pressure on public market valuations, capital continues to flow aggressively into private AI ventures. Reuters reported that investment firm Blackstone is increasing its stake in AI startup Anthropic, with the total investment approaching $1 billion and valuing the company at nearly $350 billion. This stark disparity in valuation between disruptive AI newcomers and the incumbent firms they threaten underscores the core anxiety currently affecting investor psychology.
As RELX prepares to report, the market's focus will be intensely concentrated on several key metrics. Analysts and investors will scrutinize the resilience of the company's core subscription businesses, its ability to maintain pricing, and its plans for capital deployment in a softening market. Forward guidance for 2026 trading and details on capital returns will carry significant weight.
Specifically, the market is demanding clarity on how RELX is integrating AI tools into its own product suites in a way that creates value for customers without compromising the proprietary nature of its underlying data assets. While this strategic direction may sound conceptual, for investors it will ultimately be judged by the hard numbers on profitability and growth.
There is a notable risk for the company: even a strong set of financial results for 2025 may not be sufficient to reassure the market if management commentary points to increased investment spending, longer sales cycles for contract renewals, or a deceleration in revenue growth. In such a scenario, investors might conclude that the business is performing adequately, but not well enough to support its previous, higher valuation multiple. The report on Thursday will provide the next critical data point in this ongoing reassessment.
