The FTSE 100 climbed 0.2% in Friday morning trade, rising to approximately 10,447 points after closing Thursday at 10,425.96, as reports of a potential US-Iran ceasefire extension lifted sentiment across global markets.
The blue-chip index matched the DAX, also up 0.2%, but lagged behind a buoyant CAC 40, which surged 0.9% in early European trade. The FTSE 250 is up 0.5%, tracking the improving risk backdrop.
Broader risk appetite was supported by a strong Asian session — the Nikkei surged 2.5%, the Hang Seng gained 0.7%, and Australia’s ASX rose 1.6%.
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The key catalyst was news that the United States and Iran had drafted a memorandum of understanding outlining a 60-day ceasefire extension, pending approval from President Trump. Vice President JD Vance described presidential sign-off as “to be determined,” but the reports were enough to push Brent crude down to around $92.66 per barrel, easing inflation fears and providing a tailwind for equity markets.
Wall Street’s solid performance on Thursday — the S&P 500 gained 0.6% and the Nasdaq rose 0.9% — added further support.
Among individual movers, Ocado attracted buyers after the grocery technology group announced a new e-commerce fulfilment partnership with Asda, a deal seen as a significant commercial validation of its platform.
In contrast, BT Group remained under pressure following Thursday’s 3.5% slide, after the Financial Times reported the UK government is poised to block Bharti Airtel from raising its stake in the telecoms giant above 25%, citing critical national infrastructure concerns.
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