The FTSE 100 rose more than 0.5% on Thursday, outperforming its European counterparts as Brent crude advanced to $110 a barrel. The move came amid reports that Iran is preparing a protocol with Oman to monitor traffic through the Strait of Hormuz, according to Deputy Foreign Minister Kazem Gharibabadi. The news followed a speech by President Donald Trump that offered no clear roadmap for resolving the Middle East conflict, leaving investors cautious.
Energy stocks led the gains, with oil majors Shell and BP each climbing nearly 3%. Pharmaceutical groups AstraZeneca and GSK added 1.9% and 1.7%, respectively, while British American Tobacco rose more than 2%. Discount retailer B&M surged over 5% after receiving a rating upgrade. In contrast, financials lagged: banks such as HSBC Holdings and NatWest fell more than 1%, underscoring persistent risk aversion toward the sector.
