The FTSE 100 moved higher on Thursday, defying broader global weakness as US and Asian equities declined following Donald Trump’s indication that the Iran conflict could intensify.
His pledge to strike Iran “extremely hard” in the coming weeks triggered a global sell-off, weighing on major US indices including the Nasdaq 100 and the S&P 500.
On Wall Street, stocks remained under pressure, although losses moderated. The Dow Jones Industrial Average was down 104 points, or 0.23%, at 46,460, recovering from steeper earlier declines.
European markets ended the session in negative territory, with Germany’s DAX falling 0.8% and France’s CAC 40 declining 0.4%
FTSE 100 closes at one-month high ahead of bank holiday
In contrast, the FTSE 100 ended the session up 71.5 points, or 0.7%, at 10,436, marking its highest closing level since the first week of March as markets headed into the bank holiday weekend.
Oil majors led the advance, with Shell rising 2.9% and BP up 2.6%, as investors positioned for higher energy prices amid the conflict. Defensive heavyweights also attracted demand, with AstraZeneca climbing 2% and British American Tobacco adding 2.1%.
Ongoing anxiety over the Middle East crisis continued to drive energy markets, with US crude climbing above $110 a barrel. Brent crude eased from its intraday highs but remained elevated, up around 6% at $107.17 per barrel.
