The FTSE 100 has risen 9.47% in 2026, but several companies have delivered much stronger returns than the wider index.
The strongest performers have been driven by different factors, including takeover activity, defence spending, AI-related investment, earnings upgrades and successful acquisitions.
Here are seven FTSE 100 stocks that have outperformed in 2026 and the reasons behind their share price gains. Last updated August 04 2026.
Rolls-Royce Holdings (27.7% YTD)
Earnings upgrades continue to drive the recovery
Rolls-Royce has extended its strong run in 2026, with shares rising around 27% as investors have responded to improving profitability, stronger cash generation and continued progress under chief executive Tufan Erginbilgiç.
The company delivered a significant upgrade to its outlook after first-half results showed underlying operating profit increased 46% year on year to £2.53bn.
Management raised full-year underlying operating profit guidance to between £4.7bn and £4.9bn, up from its previous forecast of £4.0bn to £4.2bn. Free cash flow guidance was also increased to between £3.8bn and £4.0bn.
Growth has broadened beyond the recovery in Civil Aerospace. Engine flying hours continued to improve, while Power Systems benefited from demand for backup and prime power generation linked to data centre investment.
The Defence division also delivered stronger margins, supported by international demand and submarine power programmes.
A stronger balance sheet has allowed Rolls-Royce to increase shareholder returns through a multi-year buyback programme and the return of dividends.
BAE Systems (24.5% YTD)
Defence demand supports earnings upgrades
BAE Systems has gained around 24% in 2026 as increased defence spending, strong order intake and improved earnings expectations have supported the shares.
The company upgraded its full-year guidance after a strong first half, with sales now expected to grow between 8% and 10%, compared with previous guidance of 7% to 9%. Underlying EBIT growth is expected to reach 10% to 12%.
First-half sales increased 9% on a constant-currency basis to £15.8bn, while underlying EBIT rose 11% to £1.7bn.
BAE generated £1.8bn in free cash flow during the period, supported by customer payments on major defence programmes.
The company’s order backlog reached a record £84bn after £16.4bn of new orders in the first half of the year, providing visibility over future revenue. Contracts across aircraft, missile systems, combat vehicles and naval programmes have strengthened demand.
Higher defence budgets across the UK, US and NATO allies have been a major factor supporting BAE’s performance.
Diploma (43% YTD)
Earnings upgrades and acquisitions support growth
Diploma has continued to outperform in 2026 after delivering strong organic growth, margin expansion and further acquisitions.
For the first half of 2026, revenue increased 17% to £851.1m, with organic revenue growth reaching 15%. Adjusted operating profit rose 33% to £208.9m, while the adjusted operating margin improved by 300 basis points to 24.5%.
Adjusted earnings per share increased 36% to 109.2p, while free cash flow rose to £110.7m. Return on average total capital employed increased to 22.7% from 19.1%.
The company upgraded its full-year guidance, raising expected organic revenue growth to 12% from 9%. Acquisitions announced so far are expected to add 6% to reported growth, while operating profit growth is now expected to exceed 30%.
Diploma has continued expanding through acquisitions, completing 15 deals over the last 12 months worth around £310m. Recent acquisitions include CDM, a US interconnect business serving the defence sector.
Its Controls division has been a major growth driver, delivering 26% organic growth due to demand across aerospace, defence, data centres and energy markets.
Computacenter (63% YTD)
AI demand and stronger trading lift expectations
Computacenter has been one of the FTSE 100’s strongest performers in 2026 after upgrading its outlook following a stronger-than-expected first half.
The technology services provider said adjusted profit before tax for the six months to 30 June is expected to be around double the previous year’s £81.5m.
Growth was driven by strong demand in North America, particularly from hyperscale customers, which supported both technology sourcing and professional services.
The UK also delivered strong growth, with technology sourcing benefiting from further AI-related projects alongside continued demand for professional services. Germany saw good growth in technology sourcing, although professional services remained weaker.
Computacenter’s committed product order backlog was ahead of the £7.1bn recorded at the end of 2025, highlighting strong customer demand and improving visibility over future revenue.
The company now expects full-year 2026 results to come comfortably ahead of market expectations, with analysts forecasting adjusted profit before tax of around £313.7m.
Coca-Cola HBC (28% YTD)
Volume growth and Africa expansion support gains
Coca-Cola HBC has outperformed many consumer staples companies in 2026 after delivering strong volume growth and maintaining its financial outlook.
The Coca-Cola bottling partner for Africa and Central and Eastern Europe reported first-quarter net sales revenue of €2.71bn, up 11.6% year on year.
Volume growth was particularly strong, rising 9.6%, ahead of market expectations. Growth was seen across all segments, although emerging markets were a standout performer, with revenue increasing 15%.
The company maintained its 2026 guidance, expecting organic revenue growth of 6% to 7% and organic earnings before interest and tax growth of 7% to 10%.
Investors have also focused on the planned acquisition of Coca-Cola Beverages Africa (CCBA). Coca-Cola HBC is paying $2.6bn for a 75% stake, with completion expected during the second half of 2026.
The acquisition would expand Coca-Cola HBC’s presence across African markets and provide another source of future growth.
Schroders (44% YTD)
Nuveen acquisition drives the share price higher
Schroders has been one of the FTSE 100’s strongest performers in 2026 after agreeing to be acquired by Pantheon LLC, a newly incorporated subsidiary of Nuveen, which is owned by TIAA.
The recommended cash acquisition will combine two major active asset managers, creating a group with almost $2.5tn in assets under management across institutional and wealth channels.
The deal gives Nuveen the opportunity to combine complementary businesses and create one of the largest global active asset managers.
Schroders had also improved its financial performance, with higher operating income, rising assets under management and progress on cost reductions.
However, the acquisition offer has been the main factor behind the share price rerating.
Beazley (58% YTD)
Zurich takeover offer drives investor interest
Beazley’s share price performance in 2026 has been heavily influenced by takeover interest from Zurich Insurance Group.
Zurich’s approach triggered the initial rise in the shares before an improved all-cash offer valued Beazley at 1,335p per share.
A Takeover Code disclosure showed Zurich continued buying Beazley shares, acquiring 278,813 shares at prices between 1,290.50p and 1,293p.
Following those purchases, Zurich held 41.67 million Beazley shares, representing a 6.92% stake in the company.
Unlike several other companies on this list, Beazley’s outperformance has been primarily linked to acquisition interest rather than changes in operating performance.
Conclusion
The FTSE 100’s strongest performers in 2026 have been driven by different factors.
Rolls-Royce and BAE Systems have benefited from stronger demand across aerospace and defence, while Diploma and Computacenter have gained from investment in technology infrastructure and specialist products.
Coca-Cola HBC has delivered volume growth while expanding its market presence, while Schroders and Beazley have seen their shares supported by takeover offers.
The companies outperforming the index show how earnings improvements, strategic acquisitions and sector-specific demand can create significant differences in share price performance.
