FTSE 100 today: Stocks rise ahead of ECB rate decision

On Thursday, British stocks gained ground as traders prepared for a crucial European Central Bank decision. The FTSE 100 climbed 0.06%, while Germany's DAX increased 0.12% and France's CAC 40 rose 0.30%. Sterling was valued at $1.3554, up 0.07% for the day.

Iranian forces struck multiple locations along the country's southern coast, with explosions reported in Minab County and Qeshm Island. The Strait of Hormuz saw a drop in vessel transits to seven on Wednesday, down from 12 the previous day, a figure that may not fully reflect actual traffic.

The United States responded to Iranian ballistic missile strikes on its Al Azraq airbase in Jordan, with some F-15 aircraft sustaining minor damage. U.S. President Donald Trump claimed victory in the conflict and predicted falling oil prices once the war ended after the November elections, though he left the door open to negotiations.

Analysts at ING cautioned of further escalation, citing rising crude prices and Chinese demand in the North Sea as positive factors. The brokerage also noted that Iranian oil tanker attacks could tighten the market more significantly than recent weeks suggested.

Investors were also watching the European Central Bank's decision, with a 25-basis-point rate hike across all three benchmark rates widely expected. British Foreign Secretary Ed Miliband dismissed Israel's closure of London's consulate in Jerusalem as regrettable. A UK-led ban on illegal Israeli settlement imports garnered mixed reactions, with UN special rapporteur Francesca Albanese deeming it potentially seismic but calling for expansion beyond the West Bank to include East Jerusalem and Gaza.