FTSE 100 Live: Index Opened 108.93 Points Higher at 10,782 as US-Iran Peace Talks Lifts Hopes, Brent at USD 91.39

The FTSE 100 opened 108.93 points higher at 10,782.87, tracking gains on Wall Street and across Asian markets, as hopes of an end to the US-Iran war lifted investor sentiment.  Brent crude futures fell 1.27% to USD 91.39 per barrel. US West Texas Intermediate (WTI) declined 1.39% to USD 85.64 per barrel. 

Sterling traded at USD 1.3448 early Tuesday, higher than USD 1.3415 at the London equities close on Monday. Against the euro, sterling rose to EUR 1.1978 from EUR 1.1974 a day prior.

Gainers and Losers

On the upside, Lion Finance Group gained 2.86% to 13,660.00p, while Metlen Energy & Metals advanced 2.15% to EUR 46.54. Computacenter rose 1.82% to 4,710.00p, and Spirax Group increased 1.36% to 7,435.00p. Prudential climbed 1.21% to 968.20p, while Investec gained 1.19% to 640.50p.

On the downside, Ithaca Energy declined 1.45% to 245.60p, while BP fell 1.08% to 550.70p. Shell slipped 0.91% to 3,667.50p, and Glencore decreased 0.31% to 513.80p. Croda International dropped 0.25% to 3,613.00p, while Rio Tinto edged down 0.11% to 6,409.00p.

Vodafone Raises Profit Target

Vodafone raised its profit target after cutting 3,000 jobs in Europe between April and September 2026, helping drive savings of EUR 200 million (GBP 167 million). 

The group also confirmed it would cut an additional 2,300 jobs in Germany over two years as it looks to turn around performance in the market. 

Chief executive Margherita Della Valle said operations in the market were 'not yet where it needs to be,' though the firm upgraded its full-year targets across earnings and cash flow after revenue jumped on the consolidation of Safaricom, Vodafone Three and Telekom Romania.

Middle East War 'Effectively Over' Says Trump

Oil prices declined further this morning, with Brent crude down 1.27% at USD 91 per barrel. This comes after Donald Trump said overnight that the Iran war 'militarily is effectively over'. 

In a later post on his Truth Social platform, the President said he had held 'excellent' talks with the Qatari Prime Minister and hailed 'positive momentum toward an end to this conflict'. 

He said the US is 'locked and loaded' for further strikes on Iran, though he added that this 'seems to be quite unlikely'.

Global Market View

In the US, the Dow Jones Industrial Average surged 1,104.02 points, or 2.15%, to close at 52,389.75. The S&P 500 rose 2.35% to finish at 7,549.94, while the Nasdaq Composite gained 2.74% to 25,253.14.

In Asia, Tokyo's Nikkei 225 rose 2.87% to 60,459.58, while China’s Shanghai Composite edged up by 0.08%. Hong Kong’s Hang Seng rose 0.38%, and South Korea’s Kospi gained 4.39%. In India, both the Nifty 50 and the Sensex remained closed on account of Diwali-Balipratipada.

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