London stocks are set for a firmer open on Thursday following the previous session’s strong rally, as optimism over a potential US-Iran agreement continues to support global risk sentiment.
Futures indicate the FTSE 100 will open around 0.1% higher after surging nearly 220 points on Wednesday to close at 10,438.66.
Investor sentiment remained supported by reports that the US and Iran are close to agreeing on a preliminary framework to end the conflict and pave the way for broader nuclear negotiations. Asian markets rallied overnight, with major regional benchmarks climbing between 2% and 3% in catch-up trading.
Oil prices were relatively stable, with Brent crude holding just below $102 per barrel after rebounding modestly from the previous session’s sharp decline.
Among corporate developments, BP was in focus after reports that the US extended a licence allowing the company to continue managing payments involving sanctioned Iranian and Russian partners linked to a gas project in Azerbaijan.
Meanwhile, Intertek is reportedly preparing to reject a revised takeover proposal from private equity group EQT valuing the business at £58 per share.
Commodity markets were mixed, with gold rising for a third consecutive session amid a softer US dollar, while copper prices eased after the previous day’s rally.
Several major London-listed companies, including Glencore, RELX and Admiral Group, will trade ex-dividend on Thursday.
