London equities ended a four-day slide on Friday. The FTSE 100 added 36.45 points, or 0.34%, to reach 10,464.72 a little past midday, helped by falling crude prices and a softening in bond yields that steadied appetite for risk.

Brent crude, the front-month contract, dipped to $98.92 during the session before steadying around $99.90 — roughly 2.3% lower than the prior close. Cheaper energy eased cost pressure fears for a market still digesting geopolitical tension around Gulf supply.

Mining shares did the heavy lifting. Glencore rose 2.1%, Rio Tinto added almost 2%, Antofagasta climbed 1.5%, and both Anglo American and Fresnillo put on 1.4%. Elsewhere, pub chain JD Wetherspoon jumped 8% after reporting 8.6% comparable-sales growth for the opening nine-week stretch of its latest financial year, while BT Group advanced 4.5% and Halma gained nearly 3%. Vodafone, Airtel Africa, Compass Group and a cluster of industrials rose between 1.4% and 2.3%.

The losses were concentrated. IG Group collapsed 22% after the online broker lowered its revenue-growth guidance for 2026. Standard Chartered, Prudential, SSE and Aberdeen Group fell between 0.8% and 2.2%, with HSBC and Metlen Energy & Metals also under pressure.

Why it matters

A down day for oil is typically an up day for the FTSE 100's importers, retailers and consumers, and Friday's tape played that script cleanly. With Brent back under $100, the energy cost headwind that has weighed on UK margins is easing, even if only for now. The broader bid across defensive names like Bunzl, Haleon and Compass Group suggests the move was less a miner-only spike and more a general relief bid tied to yields coming down.

For index watchers, the bounce matters because it came at the end of a four-session losing run — a snapback above 10,460 keeps the short-term structure intact rather than letting the slide deepen into a proper correction.

What to watch

  • Brent crude direction: a renewed push above $100 would quickly re-tighten the squeeze on UK importers
  • UK bond yields: further easing supports equities; any hawkish surprise could reverse Friday's relief
  • Miner follow-through: Glencore and Rio Tinto's gains need a second day to confirm the rotation is real
  • IG Group's fallout: a 22% drop after a guidance cut may draw bargain hunters or more downgrades next week
  • Gulf supply headlines: any disruption to tanker flows through the Strait of Hormuz would hit crude prices again

MarketRadar take

The setup favors the bulls into the weekend: oil under $100 and easing yields are exactly the combination the FTSE 100 needs to hold above 10,460. That said, the IG Group collapse is a reminder that single-stock blowups remain the bigger risk in this market than the index itself. If Brent reclaims $100 on weekend headlines, expect Monday's opening to test this bounce quickly.