As it happened: FTSE 100 slips as oil prices surge; Vistry shares crater

Welcome back to City AM‘s FTSE 100 live blog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it.

Here’s a look at some of our top headlines today:

• Legal & General to cut 1,000 jobs by middle of 2027
• Every Lidl helps: German grocer’s owner poised to snap up Tesco stores
• Ryanair tells Burnham: Slash taxes or we’ll cut UK flights
• Collagen business founder loses £3.6bn tax battle
• AI rivals not guaranteed spot on Google search screens under UK plans