FTSE 100 Rebound Continues Despite Shell, BP Share Price Declines

The FTSE 100 extended its recovery on Wednesday morning, rising 1.6% and building on gains made earlier in the week.

The FTSE 250 climbed 1.8%, while European markets also advanced, with the DAX up 2.4% and the CAC 40 gaining 1.9%.

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The rally came as investors reacted to renewed hopes of de-escalation in the Iran conflict after U.S. President Donald Trump suggested American strikes could cease within two to three weeks.

Oil prices eased, weighing on major energy stocks. BP shares fell 1.8%, while Shell declined 1.6%.

Berkeley Group was the index’s biggest faller, plunging more than 17%. The housebuilder outlined a revised strategy for its Berkeley 2035 plan, citing a difficult backdrop of rising costs, heightened regulation, and geopolitical uncertainty.

The company reiterated guidance for FY26 pre-tax profit of £450 million and net cash of around £300 million, but said it would halt new land purchases to focus on extracting value from its existing portfolio.

At the top of the leaderboard, Rolls-Royce surged 6.3%, followed by Antofagasta, up 6.2%, and IAG, which gained 5.6%.

Meanwhile, in the retail sector, Topps Tiles said it will shut 23 stores in response to softer demand in the home improvement market and mounting cost pressures.