FTSE 100 Live: London market called higher on ceasefire optimism Proactive uses images sourced from Shutterstock
UK retail footfall picked up in March, offering a welcome break after a weak February. Data from the BRC–Sensormatic monitor shows total visits rose 2.4% year on year, with gains across High Streets, retail parks and shopping centres. Northern Ireland led regional growth, while all parts of the UK saw improvements.
However, analysts cautioned against reading too much into the bounce. The British Retail Consortium said the uplift was softer than expected, while Sensormatic highlighted the boost from Easter timing. With cost pressures and weaker confidence still in play, the big question is whether shoppers keep returning once seasonal effects fade.
Markets appear to be on a firmer footing this morning, with volatility continuing to ease ahead of US–Iran talks due in Islamabad tomorrow.
Deutsche Bank’s Jim Reid noted that the tone has remained constructive, saying: “The market tone has remained positive this morning, with oil prices steady and fresh gains for global equities ahead of the US-Iran talks in Islamabad tomorrow.”
Reid noted that the S&P 500 has now posted seven consecutive gains, with futures pointing to a potential eighth session of advances, while Brent crude is holding broadly steady around $96 a barrel. The VIX has also slipped back below its pre-strike level, signalling further easing in financial stress.
Sentiment has been supported by signs of de-escalation in the Middle East, including reports of potential direct Israel–Lebanon talks and comments suggesting a scaling back of military operations, helping to offset earlier concerns around the ceasefire outlook. Overall, Reid said markets remain focused on diplomacy and the prospect of reduced geopolitical risk heading into the weekend negotiations.
The FTSE 100 is set to open higher on Friday, with a US-Iran ceasefire holding, though confidence remains fragile ahead of peace talks in Islamabad tomorrow.
Futures point to a gain of around 20 points, a day after the index slipped 5 points to 10,603 as Middle East volatility capped the recent relief rally.
Overnight, US markets pushed higher, led by tech, as investors looked past geopolitics and turned to inflation data. March CPI is expected at 3.3%, the highest since May 2024, reflecting elevated oil prices.
The Nasdaq Composite rose 0.8%, while the S&P 500 and Dow Jones Industrial Average both gained 0.6%.
In Asia, markets followed Wall Street higher, with Japan’s Nikkei 225 up 1.8% and South Korea’s Kospi rising 1.5%.