The FTSE 100 opened modestly higher on Tuesday, 24 March 2026, rising 0.3% to 9,924.44, as strength in consumer and industrial stocks offset continued weakness in mining shares. The rebound comes as international markets go through renewed volatility. The market scenario is driven by fluctuating oil prices and evolving geopolitical developments in the Middle East.
Kingfisher surged 2.63% to £304.20 after reporting a 6% rise in annual profit and announcing a £300 million share buyback program. Adjusted profit for the year to 31 January, 2026, came in at £560 million, driven by strong UK trading after like-for-like sales growth of 3.3% at B&Q and 3.2% at Screwfix.
Among others, 3i Group climbed 2.23% to £2,752, Convatec Group advanced 1.93% to £221.80, and Associated British Foods gained 1.51% to £1,811.50. Also, Autotrader Group rose 1.45% to £468.90, and RELX jumped 1.42% to £2,496.
On the downside, mining and commodity-linked stocks continued to weigh on the index. Antofagasta fell 1.45% to £3,324, Anglo American declined 1.49% to £2,980, while Rio Tinto slipped 0.64% to £6,334.
Precious metals exposure also remained under pressure, with Fresnillo down 1.14% to £3,132 and Endeavour Mining dipped 0.50% to £3,974. The weakness follows recent declines in gold and silver prices, as well as softer copper demand, which has hit mining profitability expectations.
Brent crude prices moved above the $100 mark, trading around $101-$102 per barrel, after a sharp 10% drop in the previous session. The rebound in oil prices is tied to persistent uncertainty around supply disruptions linked to Middle East tensions.
Higher energy prices continue to influence inflation expectations, prompting markets to reassess the likelihood of tighter monetary policy globally.
Revolut posted a 57% surge in profit to £1.7 billion. It came as retail customers expanded by a record 16 million.
Total customers increased to 68.3 million. The latest financial results come weeks after Revolut announced it had bagged a full-fat UK banking license following a four-year wait for the final green light from the watchdog.
Nik Storonsky, Revolut’s founder and top boss, said, "As we transition into a truly global bank, we are proving that our technology-driven operating model continues to drive rapid expansion and record profitability”.
Housebuilder Bellway has warned the conflict in the Middle East is provoking “volatility” in the mortgage market, as the war hits consumer demand and heightens the risk of inflation.
Despite this, the firm is on track for its profit target of around £320 million.
Bellway built 4,702 homes in the first half of this financial year, up 2.7% from the year before, but pre-tax profit fell by 0.6% to £140 million.