FTSE 100 Live: London stocks edge higher as falling oil prices offer some relief Proactive uses images sourced from Shutterstock
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FTSE 100 rises 59 points to 10,123
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Brent crude eases back 1.2%
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Wall Street futures point higher
The FTSE 100 rose in opening trades, recovering some of Thursday’s steep losses, as oil prices eased after Israel’s Prime Minister Netanyahu said Israel would no longer target Iran’s energy infrastructure.
Shortly into the session, London’s blue-chip index was up 59 points at 10,122.64. It fell 2.4% yesterday. Brent crude oil was down 1.2% at $107.37 a barrel.
Airline easyJet PLC (LSE:EZJ) is leading the gainers, up 3%, followed by Intercontinental Hotels Group PLC (LSE:IHG) with a 2.9% gain. easyJet is still down close to 25% since the Middle East conflict started, and Intercontinental Hotels is down around 7%.
Other gainers include Melrose Industries PLC (LSE:MRO, OTC:MLSPF), British Airways owner International Consolidated Airlines Group SA (LSE:IAG) and Fresnillo PLC (LSE:FRES), all adding over 2%.
Smiths Group (LSE:SMIN) is leading the losers this morning, falling 4.9%, after the global technology company released half-year results and trimmed full-year guidance. BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) are also down on the lower oil price.
US markets are also expected to open higher this afternoon, with futures for the Dow Jones, the S&P 500 and the Nasdaq up between 0.1% and 0.3%.
Easter chocolate is getting a little less generous this year, while prices keep heading in the opposite direction, according to Which?
The watchdog found a clear case of “shrinkflation” across a range of big-name treats, with brands like Cadbury, Galaxy, and Toblerone quietly trimming sizes even as shelf prices rise.
The backdrop? Chocolate costs are climbing fast. While overall supermarket food inflation eased to 3.9%, chocolate prices jumped nearly 10%, largely due to global supply pressures.
That’s left shoppers paying noticeably more per bite. Some of the biggest Easter eggs have shrunk significantly while rising sharply in price per 100g, often by 30–40% or more. And in some cases, sizes stayed the same, but prices soared, with certain sharing bags and mini eggs jumping by over 50%.
The takeaway: this Easter, you might need to hunt a little harder for value, because those eggs aren’t quite as big (or as cheap) as they used to be.
More on those oil prices.
Deutsche Bank’s Jim Reid said markets stabilised after an early surge in energy prices driven by Middle East tensions. Brent crude briefly spiked to $119 before easing back to around $107, while European gas prices also pared gains after sharp upward moves.
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He noted that “the main saving grace” was the pullback in oil prices as the US and Israel signalled they wanted to avoid further attacks on energy infrastructure, calming fears of escalation. This helped the S&P 500 recover losses, although Europe’s STOXX 600 still posted its worst close of the year.
Reid highlighted tentative signs of de-escalation, but warned that uncertainty remains high, with no clarity on the Strait of Hormuz and the potential for a prolonged conflict. He also pointed to lingering pressure in gas markets after damage to Qatar’s LNG infrastructure, which could take years to repair.
The FTSE 100 is expected to creep higher as the market pauses for breath after a rout saw the blue-chip index sink 242 points to 10,064, a 2.4% loss on Thursday.
Spreadbetters have the index opening 23 points higher when trading gets underway. Oil, in the meantime, has also levelled off, with Brent crude futures easing back 1.6% to $106.93 a barrel.
With energy markets in turmoil, threatening inflation. The Reserve Bank of Australia has raised rates again, while the US Federal Reserve stayed cautious, still signalling a possible rate cut if inflation falls to 2%, a scenario that looks optimistic, according to Swissquote’s Ipek Ozkardeskaya.
The Swiss National Bank has more flexibility, with inflation close to zero, she added. In contrast, the European Central Bank and Bank of England struck a more worried tone on inflation at the conclusion of their meetings yesterday, reflecting Europe’s exposure to higher energy costs and weaker currencies against the dollar.
“A week packed with war headlines and central bank decisions comes to an end with one clear conclusion: the Middle East conflict is intensifying, and no one knows what the right monetary policy response should be,” Ozkardeskaya said.
“What everyone agrees on is that rising oil and energy prices will push inflation higher in the short to medium term, depending on the duration of the conflict, while weighing on growth. This is a message echoed by the major central banks around the world.”
In the US, stocks finished the session slightly lower on Thursday, with major indexes drifting into the red as traders balanced geopolitical headlines, energy moves, and a stronger US dollar.
The Dow Jones slipped about 0.4%, while the S&P 500 and Nasdaq each eased roughly 0.3%.