FTSE 100 Live: Stocks in tug of war as oil surges to five-month high
Welcome back to the City AM FTSE 100 liveblog. It’s Friday morning and London’s blue-chip index is set for a flat open as pressures on markets persist. The price of a barrel of oil has surged to $114 per barrel, trading at its highest level in over five months. It follows escalating Houthi attacks on [...]
Welcome to the City AM FTSE 100 liveblog, where London’s blue-chip index is set to open flat on Friday amid ongoing market pressures. Oil prices have surged to $114 per barrel, marking their highest level in over five months. This surge follows escalating Houthi attacks on Saudi targets and reports of possible renewed US strikes against Iran, which have raised supply risks in the Middle East.
Tensions have remained high due to speculation that US and Israeli militaries may plan renewed attacks on Iran following the country’s midterm elections, with the energy infrastructure potentially being a prime target.
Meanwhile, Asian stocks were down on Friday as fears over the significant funding requirements of AI weighed heavily on the tech sector, triggering the largest daily rally in Treasuries in over three years. Investors have flock to sovereign bonds and safe-haven currencies in response.
Here are some of the top headlines:
1. Bayern Munich has been valued at £3.1 billion as a German energy giant invests in Harry Kane's club.
2. A cyber threat to the internet has caused concern, with governments and companies rushing to protect against attacks.
3. Deloitte plans to create new jobs with the launch of regional deals units.
4. The government must reduce red tape to support football stadium development.
5. Bloomsbury is 'confident' of a Harry Potter boost despite a share slide.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
