- FTSE 100 falls 129 points to 10,284
- US markets drop sharply
- Brent crude $85 a barrel
5.15pm: Stocks under pressure
The ongoing conflict in the Middle East continued resulted in another tough day for global markets, with the FTSE 100 falling 129 points to 10,284.
“Stock markets, already reeling from the higher oil price, were hit by today’s payrolls that revealed a quadruple blow of bad news that signals the US economy continues to weaken,” IG chief market analyst Chris Beauchamp said. “Having added no jobs since last April, the rationale for a Fed rate cut is there, but now inflation is back to effectively stymie policymakers.”
4.15pm: Blue-chips off their lows
The FTSE 100 was down 118 points heading into the weekend, having pulled back from its lows as selling pressure on Wall Street eased.
Brent crude, the international oil benchmark, was trading just under $85 a barrel after hitting almost $86 earlier in the session.
Analysts warned that a prolonged blockade of the Strait of Hormuz, the critical Persian Gulf shipping lane through which a fifth of global oil supply passes, could push Brent to $150 a barrel.
2.44pm: Middle East fears and weak US jobs data exacerbating London’s woes
The FTSE 100 suffered a triple-digit loss as US markets opened lower on Friday.
America’s major indices lost between 1.5% and 1.7% after reports that Russia had shared intelligence with Iran, deepening concerns about Middle East instability.
The sell-off was compounded by weaker-than-expected US jobs data, with non-farm payrolls, a closely watched measure of American employment, showing the economy shed jobs in February.
1.15pm: Escalating tensions and rising oil prices keep investors cautious before payrolls report
FTSE 100 slipped 55 points on Friday as investors weighed escalating tensions in the Middle East and awaited the latest US labour market data.
US futures pointed to a weaker start on Wall Street, with Nasdaq futures down 0.9% and contracts tracking the S&P 500 and Dow Jones Industrial Average 0.6% lower.
Losses followed a negative session in New York, where the Dow Jones fell 1.6%, the S&P 500 dropped 0.6% and the Nasdaq declined 0.3%.
Markets remained focused on the intensifying conflict involving the US, Israel and Iran as the crisis entered its seventh day.
Richard Hunter, head of markets at investment platform interactive investor, said attention had partly shifted from economic data.
“It is not often that the monthly non-farm payrolls report finds itself being secondary to events elsewhere, but it nonetheless retains the ability to move the market,” he said.
“The consensus is that 60,000 jobs will have been added in February, as compared to 130,000 the previous month, although that figure could be subject to downward revisions,” Hunter added.
“Unemployment is expected to remain unchanged at 4.3%, but coupled with the possible return of inflation, investors are increasingly resigned to fewer interest rate cuts remaining on the table this year.”
Energy markets also remained in focus as Brent crude rose 1.5% to $86.71 a barrel.
US benchmark WTI climbed 6% to $85.87, putting oil on course for its biggest weekly rise since 2022.
Neil Wilson, analyst at brokerage Saxo UK, said: “As the conflict continues, markets are increasingly pricing higher-for-longer oil and disrupted energy and trade flows, which means weaker economic output and higher inflation.”
“Markets are also pricing in more restrictive monetary policy, which is having a secondary impact on valuations going forward as bond yields rise.”
11.30: Spoke too soon
The FTSE 100’s recovery has been short-lived, with the blue-chip index once more back in the red. It’s currently 22 points down at 10,392.05.
Other European markets have also declined, with the DAX in Frankfurt and the CAC 40 in Paris both down more than 0.2%.
“Early European gains have faded as we close out a historic week that looks more dangerous with each passing day,” commented Scope Markets’ Joshua Mahony.
“What many had hoped would be a short-term conflict and swift overthrow of the regime looks to be anything but that, and for European markets, there is a particular sensitivity to gas prices that spiked at the beginning of the week but stabilised since. For today, the notable areas of strength within the FTSE 100 comes in the form of defence names, and oil & gas stocks.”
10.35am: Oil climbs most in 4 years
As mentioned, Brent crude has surged above $85 a barrel this week, marking its biggest weekly jump since early 2022, as the Middle East conflict rattles global energy markets. Shipping through the Strait of Hormuz, normally a key artery for 20 million barrels of oil a day, has all but stopped, with security risks, insurance headaches, and operational uncertainty forcing some producers to cut output.
According to a report on the Trading Economics website, tensions show no sign of easing. Iran denied seeking negotiations and launched missiles and drones across the Gulf, hitting a refinery in Bahrain, while Israel continued airstrikes on Tehran.
The US has hinted at measures to ease pressure, from tapping strategic reserves to relaxing fuel rules, and even allowing India to pick up some Russian crude.
Meanwhile, Saudi Arabia raised Asian prices and rerouted shipments through the Red Sea. With global supply tightening and volatility rising, oil traders are bracing for more turbulence, and possibly more headlines, in the days ahead.
10.15am: London stocks recover … again!
It’s a choppy morning for the FTSE 100, with the index creeping ahead again, after earlier shedding all the morning’s opening gains. It’s now 20 points ahead at 10,433.93.
No such luck for Wall Street, though, with index futures pointing to losses of 0.3% to 0.4% when the US market opens.
Brent crude oil futures, meanwhile, have extended their gains and are now 1.5% up at $86.71, on track for their biggest weekly jump since 2022 as the escalating Middle East conflict severely disrupted global energy flows, according to data from Trading Economics.
“As the conflict continues, markets are increasingly pricing higher-for-longer oil and disrupted energy and trade flows, which means weaker economic output and higher inflation,” commented Saxo UK’s Neil Wilson.
“Markets are also pricing in more restrictive monetary policy, which is having a secondary impact on valuations going forward as bond yields rise.
“Today sees the US nonfarm payrolls report, but it’s hard to see what exactly the market can get from this, given the backdrop of the war and fragile risk sentiment.”
9.40am: Footsie now flat
The FTSE 100 has retraced all of the morning’s gains, and US futures have turned negative ahead of a key jobs report, due for release ahead of the US market open.
After trading almost 0.5% higher earlier in the session, London’s blue-chip index is now flat at 10,414.15. In the US, futures for the Dow Jones, the S&P 500 and the Nasdaq are now down 0.1% to 0.2%, reversing earlier gains.
“There’s not much synchronisation in markets at the moment as we welcome in another payrolls Friday today,” commented Deutsche Bank’s Jim Reid.
“This one will be obviously overshadowed by events in the Middle East. Indeed, the market selloff resumed over the last 24 hours, with equities and bonds posting fresh declines as the war in the Middle East showed no sign of ending,” Reid added. “That’s raising fears about a more protracted conflict, with investors increasingly alarmed that the oil price spike will become entrenched, pushing up inflation around the world.”
9.30am: Small caps in the news
Various Eateries PLC (AIM:VARE, FRA:63U) is acquiring four premium pubs with rooms from Grosvenor Pubs and Inns for £11.25 million, creating a new third brand, The Linwood Collection. The sites generated £10.5 million in revenue in 2025. Funded via a £15 million HSBC debt facility, the group plans to rebrand as Coppa Collective plc (ticker: COPC) to reflect its multi-format hospitality focus. Read more
Astrid Intelligence PLC (AQSE:ASTR) has launched Astrid Vault, an on-chain platform designed to improve liquidity across the Bittensor decentralised AI network. The vault allows subnet token holders to lock up holdings in exchange for discounted Subnet 127 tokens, reducing short-term selling pressure. Astrid expects this to strengthen integration across subnets and support stability as decentralised AI networks grow. Read more
Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1) has received its first bitcoin mining rig from a potential ASIC partner, marking a key step toward commercial testing of its AI Oracle software. CEO Francesco Gardin said the team will focus on one manufacturer at a time, with lab testing at Milan University set to begin next week, ahead of potential contractual discussions. Read more
HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) has expanded its Rudyard helium project in northern Montana to nearly 8,000 acres, covering the core of a proven helium-bearing structure and three producing wells. CEO Bo Sears highlighted the strategic value of US-based helium amid global supply disruptions, noting that Helix’s domestic production ensures delivery to local customers while QatarEnergy’s force majeure affects global supply. Read more
9am: Footsie extends gains as markets eye NFPs
It is not often that the monthly US non-farm payrolls (NFP) report finds itself being secondary to events elsewhere, but it nonetheless retains the ability to move the market, says interactive investor’s Richard Hunter.
Hunter notes that consensus is that 60,000 jobs will have been added in February, compared to 130,000 the previous month, although that figure could be subject to downward revisions.
“Unemployment is expected to remain unchanged at 4.3%, but coupled with the possible return of inflation, investors are increasingly resigned to fewer interest rate cuts remaining on the table this year,” Hunter commented.
February’s NFP report is due for release at 1.30pm GMT, an hour before the US market open. Ahead of that, futures for the Dow Jones, the S&P 500 and the Nasdaq are 0.1%-0.2% firmer.
The FTSE 100, meanwhile, is now 49 points up at 10,463.07.
8.35am: Wet weather dampens retail sales
February wasn’t kind to UK retailers. BRC-Sensormatic data shows total footfall fell 4.7% year-on-year, a steep slide from January’s 0.6% drop. High streets and shopping centres were hit hardest, dropping 5.4% and 5.5% respectively, while retail parks fared slightly better at -3.1%.
Every UK region saw fewer shoppers, with Wales down 5.8% and London recording its worst February footfall since April 2024. Clothing and footwear stores felt the squeeze, as shoppers chose dry couches over rainy streets. Some northern cities, more used to wet weather, held up a little better.
Helen Dickinson of the British Retail Consortium says government support could help high streets recover, citing outdated business rates and the need for a refreshed High Street Strategy.
Sensormatic’s Andy Sumpter points to economic pressures too: food inflation and rising unemployment meant many delayed discretionary trips.
But there’s hope on the horizon: with Mother’s Day approaching and spring’s sunnier days ahead, retailers are optimistic that shoppers will soon return, umbrellas in hand, wallets at the ready.
8.15am: Footsie off to a positive start
The FTSE 100 opened higher following a week that saw London’s blue-chip index pull back from record levels after the US and Israel launched attacks on Iran.
Shortly after the open, the index was 29 points up at 10,442.73.
Top of the leaderboard is Entain PLC (LSE:ENT), up 2.8% and building on yesterday’s gains after the Ladbrokes, Coral and Foxy Bingo owner reported full-year results ahead of expectations and struck an upbeat tone on its ability to absorb a looming increase in UK gaming duty.
IMI PLC (LSE:IMI) and 3i Group PLC (LSE:III) are up 2.6% and easyJet PLC (LSE:EZJ) has clawed back 1.7% following sharp losses for airlines this week as the Middle East conflict disrupted global travel. BA owner International Consolidated Airlines Group SA (LSE:IAG) is up 1.2%.
Rentokil Initial PLC (LSE:RTO) is leading the decliners, down 0.7%, followed by Unilever PLC (LSE:ULVR) and Diageo PLC (LSE:DGE), shedding 0.6% and 0.5% respectively.
7.45: House prices on the rise
Some positive news for homeowners, depending on where you live: UK house prices edged higher in February, continuing the market’s steady start to 2026.
The latest Halifax House Price Index showed prices rose 0.3% in February, after a 0.8% increase in January, taking the average UK property price to £301,151, a new high. Annual growth also picked up to 1.3%, the strongest rate in four months.
Halifax said the market has regained some momentum after a softer end to 2025, although affordability remains stretched and supply limited.
Regionally, Northern Ireland (+6.3%) and Scotland (+4.7%) led annual growth, while London (-1%) and the South East (-2.2%) saw prices slip.
7.15am: FTSE 100 called higher
The FTSE 100 is set to open higher on Friday, clawing back some of Thursday’s sharp losses as the war in the Middle East moves into its seventh day.
London’s blue-chip index is called up around 57 points after dropping 153 points in the previous session to close at 10,413.
Futures on the Dow Jones, S&P 500 and Nasdaq Composite are also pointing to a modestly positive start after Wall Street sold off on Thursday as oil prices climbed, raising fresh concerns about inflation and interest rates.
Brent crude has moved above $85 a barrel, even as the US government considers steps to cool the rally. Those could include releasing strategic oil reserves, easing fuel-blending rules, allowing Russian oil sales to India, or even US Treasury trading in oil futures.
“The latter would be unprecedented,” said Ipek Ozkardeskaya of Swissquote.
“This combination of rising energy prices, more hawkish central bank expectations, higher yields and weaker appetite for risk assets will likely remain in play as long as Middle East tensions have a lasting impact on oil and gas prices,” she added.
Asian markets are also positive this morning, with Tokyo’s Nikkei, Hong Kong’s Hang Seng, and Shanghai’s SSE Composite making solid gains. In Seoul, the Kospi is a few points higher, but the ASX 200 in Sydney fell 1%.
Today’s non-farm payrolls data are now in focus, with markets hoping for solid US jobs data to support sentiment ahead of the weekend. Economists expect about 58,000 new nonfarm jobs, 3.7% wage growth, and unemployment around 4.3%, with weak data unlikely to boost hopes of Federal Reserve rate cuts while inflation risks remain elevated.
“Given rising inflation risks, stronger data could trigger a positive market reaction, while weaker-than-expected figures could fuel stagflation concerns – rising unemployment alongside persistent inflation – and weigh on US equities ahead of the weekly close,” said Ozkardeskaya.
