Neutral
FTSE 100 rises 0.9% to 10,736.23 as oil prices dip below $100 amid Middle East tensions.
The FTSE 100 gained 0.9% to close at 10,736.23 on July 24, 2026, as oil prices fell below $100 per barrel, easing inflation concerns. Financial stocks, particularly HSBC, saw gains following the sale of its Singapore life insurance business. However, escalating Middle East tensions and new U.S. tariffs introduced additional market uncertainties.
Key points
- HSBC shares rose 1.7% after Allianz agreed to acquire its Singapore life insurance business for S$2.7 billion, streamlining operations and focusing on core Asian banking.
- Oil prices declined, with Brent crude dropping over 5% to around $96 per barrel, alleviating inflation concerns but leading to a 1.1% drop in energy shares, including BP and Shell.
- The U.S. imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including China, over alleged forced labor concerns, prompting Beijing's condemnation and warnings against trade wars.
Sources
AI-generated from public news sources. Not financial advice.
