2026.04.1716:06:08UTC+00FTSE 100 Rises to Over 6-Week High

The FTSE 100 rose more than 0.5% on Friday, closing at its highest level in over six weeks after Iran indicated that the Strait of Hormuz will remain open under the ongoing ceasefire with the US. The news triggered a sharp fall in oil prices and prompted traders to scale back expectations of further interest rate hikes as inflation concerns eased.

Travel stocks led the gains, with EasyJet advancing 6.9% and IAG up 5.9%. Intertek climbed nearly 5% and is now more than 30% higher on the week after rejecting a £7.9 billion takeover approach from EQT. Banks also contributed to the rally, with HSBC, Lloyds, Barclays, and NatWest adding between 1.5% and 3.3%.

Blue-chip names including AstraZeneca, Unilever, Rolls-Royce, GSK, Rio Tinto, and BAE Systems also recorded solid gains. By contrast, energy and utility stocks underperformed sharply: BP fell more than 7%, Shell lost over 5%, while SSE and Centrica each declined by around 6%.

Looking ahead, investors will focus on next week’s earnings reports from Sainsbury’s, WH Smith, AB Foods, Reckitt, and the London Stock Exchange Group.