FTSE 100 staged a strong rebound, rising 1.4% or 145.76 points to 10,393.28, as easing oil prices and improving global sentiment lifted investor confidence. The recovery follows a volatile session where geopolitical tensions and surging crude prices pushed markets lower.

A retreat in Brent crude from $119 to around $90 per barrel helped ease fears, supporting equities across global markets. 

Housebuilder Persimmon Posts Profit 

Persimmon reported a 13% rise in 2025 underlying profit to £445.6 million after it recorded a 12% increase in the number of new home completions to 11,905. 

Its operating margin improved by 20 basis points to 14.3%. The builder described current market conditions as supportive. In the first nine weeks of this year, the net private sales rate per outlet per week rose 9%.

“Assuming the conflict with Iran and its impact is short, Persimmon is set to grow again in 2026,” said Chief Executive Dean Finch.

Gainers and Losers

International Consolidated Airlines Group advanced 5.73% to £378.10 as lower oil prices improved the outlook for airline operating costs. Fuel expenses are one of the largest cost components for airlines. Falling crude oil prices boosted the airline sector. 

Engineering specialist Spirax Group also delivered a strong performance, jumping 5.46% to £7,440, while mining giant Antofagasta rose 4.81% to £3,838 as commodity stocks recovered.

Meanwhile, Anglo American gained 4.64% to £3,272, and Barclays climbed 4.57% to £415.55, supported by improved investor sentiment.

On the downside, Energy major Shell declined 2.15% to £3,138, while BP fell 2.30% to £498.25 as crude oil prices came down sharply from recent highs.

Defense contractor BAE Systems dropped 1.20% to £2,232, while London Stock Exchange Group slipped 0.25% to £8,640.

Also, RELX edged down 0.08% to £2,644, and Compass Group declined 0.09% to £2,281.

Oil Price Volatility Drives Market Sentiment

Brent crude briefly dropped to $83.66 per barrel during the US session after comments suggesting the Middle East conflict could ease.

However, prices later rebounded to around $90-$93 per barrel after Iran warned it could restrict oil shipments through the Strait of Hormuz.

Also Read: Top Energy Stocks in India: 2026 Investment Picks

Global Market View

In the United States, Wall Street’s S&P 500 index closed 0.8% higher yesterday, 9 March 2026. The Nasdaq Composite surged 1.4% and the Dow Jones Industrial Average lifted 0.5%.

In Asia, South Korea’s Kospi jumped 5.3% to 5,532.5 points, rebounding from high sell-offs after oil prices started rising. 

Japan’s Nikkei 225 rose 2.8%, while China’s Shanghai Composite inched up 0.65%. India’s Sensex also crept up 0.4% to 77.9%, 27.5 points.

Retail sales growth slowed sharply in February, with total sales rising just 1.1% year-on-year, well below the 12-month average of 2.3%. Non-food sales declined 0.4%, reflecting cautious consumer spending amid rising living costs.