FTSE 100 Live: Diploma leads stocks as pound ticks up; Oil dips
Good morning and welcome back to the City AM liveblog.
The FTSE 100 index closed up 0.8 per cent higher on Tuesday at 10,403.60p.
The gains were accompanied by a stronger performance from the pound, which finished up $1.334 by the time London markets closed, compared to $1.329 on Monday.
Sterling and the City were able to shake off additional woes around oil prices after Brent crude – the international bench mark for oil – inched back up, settling comfortably in triple-digits.
The move did help FTSE 100 heavyweights Shell and BP, which rose over one per cent and three per cent respectively in Tuesday’s session.
“London’s FTSE 100 managed to build on yesterday’s forward momentum in the face of another jump in the price of oil” said AJ Bell head of financial analysis Danni Hewson.
But Tuesday also offered a timely reminder of the inflationary consequences of the unfolding conflict in the Middle East.
Australia’s central bank raised benchmark policy rates for a second-straight time, dragging them back to the highest since April 2025 at 4.1 per cent, amid sticky inflation.
The 25 basis points hike was in line with expectations from analysts polled by Reuters, and also came as the nation’s inflation remained elevated above the bank’s upper limit of three per cent.
Attention now turns to the Bank of England, Federal Reserve and European Central Bank, which are all set for major rate decisions this week.
We’ll be bringing you the latest news and analysis of the morning.
Here are a few of our top stories from yesterday:
- 2026 World Cup: Iran asks Fifa to move games from US to Mexico
- Shadow bank collapse floods London with hundreds of luxury properties
- Trustpilot shares rocket as profit soars past forecasts
- Close Brothers to axe fifth of jobs after motor finance ‘wipeout’ warning
- Wickes profit doubles as DIY firm bets on solar
- UK fintech Pockit borrows cash from Spanish railway architect
- Iran war: Independent pubs face ‘devastating’ energy costs