FTSE 100 Live: Stocks to jump; oil rises as US says ‘no negotiations’ with Iran

The FTSE 100, the UK's blue-chip index, is expected to rise on Friday morning, according to futures from investment platform IG. Oil prices have risen back up to $90 on Thursday night, reversing earlier weekly losses. This increase in oil prices is due to conflicting signals about whether oil supplies will improve. Iran's military announced a revenue-sharing agreement with Oman over the important trade route, but Iran maintained that the deal will not bring about the immediate reopening of the strait.

The confusion over Middle Eastern negotiations was further compounded when it came to light that Qatar's prime minister had visited Tehran to discuss a deal over the Strait of Hormuz. However, the White House has stated that no negotiations are currently taking place between the US and Iran. Tech stocks in the US experienced a significant surge on Thursday, with Nvidia's sales more than doubling.

Dan Coatsworth, head of markets at AJ Bell, noted that while tech stocks were thriving, other sectors of the market faced outages. The FTSE 100 saw a mixed performance, with HSBC, Shell, AstraZeneca, and British American Tobacco among the stocks contributing to the market's decline. This suggests a shift in market focus from traditional, stable businesses to technology companies like Computacenter and Sage, which have a greater influence on the US market compared to the UK.

The liveblog will continue to provide updates and analysis on the latest market developments, starting with the top stories of the morning.