(Sharecast News) - London's FTSE 100 was up 0.1% at 10,473.30 in afternoon trade on Thursday.
Supermarket chain Tesco rallied as it lifted the lower end of annual guidance and its share buyback programme after interim profits jumped 6.5% to £1.78bn.
The company now expects adjusted operating profit of between £3.15bn and £3.30bn, compared with the £3.0bn to £3.3bn range outlined in April. It also increased its share buyback to £950m from £750m.
Imperial Brands gained after saying it remained on track to meet full‑year FY26 guidance across all key metrics and lifted shareholder returns with a fresh £1.5bn buyback for FY27, following the completion of its £1.45bn repurchase for the current year. British American Tobacco also gained.
Oil giants BP and Shell gushed higher after Brent crude topped $105 a barrel amid concerns about escalating tensions between the US and Iran following reports that Donald Trump is preparing "massive" strikes on Iran before the US mid-term election, and after Yemen-backed Houthis hit two Saudi airports.
Also boosting oil prices was news that tropical storm Isaias was set to reach the US Gulf Coast by Friday.
Standard Life slumped after investment company Aberdeen offloaded half of its stake in the savings and retirement specialist for £436m through a discounted share placing.
Advertising firm WPP lost ground as it traded without entitlement to the dividend.
FTSE 100 - Risers
Tesco (TSCO) 508.80p 6.84%
Imperial Brands (IMB) 2,613.00p 5.36%
BP (BP.) 583.10p 3.51%
Sainsbury (J) (SBRY) 338.90p 3.45%
Shell (SHEL) 3,774.00p 3.30%
IG Group Holdings (IGG) 973.50p 3.29%
Pearson (PSON) 1,270.00p 2.79%
British American Tobacco (BATS) 4,177.00p 2.43%
Informa (INF) 886.20p 2.35%
Abrdn (ABDN) 238.60p 2.14%
FTSE 100 - Fallers
Standard Life (SDLF) 839.00p -3.79%
Melrose Industries (MRO) 435.70p -3.58%
Metlen Energy & Metals (MTLN) 47.91p -3.06%
Rolls-Royce Holdings (RR.) 1,375.60p -2.62%
International Consolidated Airlines Group SA (CDI) (IAG) 423.00p -2.33%
Lion Finance Group (BGEO) 12,620.00p -2.10%
Land Securities Group (LAND) 602.50p -1.96%
Barratt Redrow (BTRW) 293.80p -1.87%
WPP (WPP) 376.10p -1.84%
Antofagasta (ANTO) 3,629.00p -1.81%