The FTSE 100 rose 0.3% to 10,640 on Friday afternoon, its highest level since early March, and was on track for a third consecutive week of gains. Sentiment remained cautiously optimistic ahead of US–Iran negotiations scheduled for the weekend, with investors also encouraged by signs that Ukraine–Russia peace talks might progress sooner than previously expected.
US President Trump struck a mixed tone, voicing optimism about a potential agreement with Iran while later warning Tehran over newly imposed fees on vessels transiting the Strait of Hormuz. At the same time, Kuwait’s Foreign Ministry accused Iran and its proxies of launching fresh drone attacks, leaving the strategically vital waterway largely obstructed.
In corporate news, Unite Group gained 0.5% after reiterating its guidance on occupancy and rental growth, though it cautioned that outcomes could land at the lower end of expectations for the 2026/27 academic year. By contrast, Compass Group slipped 1.6% following a downbeat trading update from French peer Sodexo.
