As it happened: FTSE 100 rebounds as oil drops back on hopes of Hormuz deal

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 on Friday morning:

• OBR chief: Public ‘have not lowered their expectations about what the state can do’
• City law firm to rebrand after co-founder demands name be stripped
• Ministers back City skyscraper plans after Tower of London row
• Poundland owner could carve out Irish business in rush sale
• Lord’s Cricket Ground, West Ham, EY among creditors owed £190m by Brewdog