FTSE 100 rises as oil prices and bond yields ease

The FTSE 100 closed higher on Friday, gaining approximately 1.1%, as market sentiment improved due to easing tensions between the United States and Iran. US President Donald Trump indicated that Washington would not attack Iran before the November 3 midterm elections, describing recent discussions with Tehran as productive. Following these signals, Brent crude prices retreated from recent highs, easing inflation concerns.

In the UK markets, bond yields also declined, providing support to equity valuations. While the mining and technology sectors saw gains, Airtel Africa experienced a decline following the London debut of its mobile-money subsidiary, Airtel Money. Additionally, Shell reported an agreement to acquire a 30% interest in Equinor’s Bay du Nord offshore oil project in Canada.