London close: Stocks inch to six-week high as oil prices retreat

14th Apr 2026 15:59

(Sharecast News) - UK blue chips eked out minor gains on Tuesday for the first time in four trading sessions, finishing at a six-week high as oil prices pulled back amid hopes that the US and Iran could soon agree on a peace deal to end the conflict.

The FTSE 100 settled 0.25% higher at 10,609.06, lifted by a solid start on Wall Street after quarterly earnings from heavyweights Citi, BlackRock, JPMorgan, Wells Fargo and Johnson & Johnson came in better than expected.

Despite the tepid moves over recent sessions, Tuesday's positive finish pushed the FTSE 100 to its highest closing price since 2 March.

Kathleen Brooks, research director at XTB, said the market mood was "upbeat". Hopes have risen that the US-Iran conflict may soon come to an end after a number of vessels crossed the Strait of Hormuz on Tuesday - including two that stopped at Iranian ports - despite the supposed US blockade of the key shipping route.

"For now, this is giving hope that: 1) the Strait is passable and ships are not at risk of attack if they attempt to cross the Strait; and 2) that the peace process continues," Brooks said.

Investors were also mulling a Reuters report suggesting that negotiating teams from ‌the US and Iran could return to Islamabad later this week to resume peace talks. "No firm date has been set, with the delegations keeping ⁠Friday through Sunday open," a senior Iranian source said.

Brent crude was 3.5% lower at $95.86 a barrel by the close in London, having briefly surged past the $100 mark the previous session.

On home shores, the latest BRC-KPMG retail sales monitor revealed that total UK sales rose by 3.6% in the five weeks to 4 April, compared to a 1.1% rise in February 2026, after shoppers splashed out on food and drink for Easter.

Intertek surges, Imperial Brands slumps

Intertek surged 13% to lead the risers on the FTSE 100 after saying it was considering splitting into two businesses. The company has launched a strategic review to evaluate the creation of two specialist businesses, Intertek Energy & Infrastructure and Intertek Testing & Assurance, either by demerger or a sale.

Tobacco company Imperial Brands slumped 7% as it reiterated its full‑year guidance but cautioned that the conflict in the Middle East has resulted in "a more uncertain geopolitical and macro environment". British American Tobacco also lost ground.

BP was weaker despite saying that the first-quarter oil trading result was set to be "exceptional", after the outbreak of war in the Middle East caused energy prices to soar. The stock, which has jumped by nearly a third so far this year, was pulling back after a solid performance on Monday, along with sector peers Shell, Energean, Diversified, Harbour and Ithaca.

In contrast, travel stocks Wizz Air, IHG, easyJet and IAG rose strongly as oil prices fell.

Market Movers

FTSE 100 (UKX) 10,609.06 0.25%

FTSE 250 (MCX) 22,693.84 1.87%

techMARK (TASX) 5,930.17 1.39%

FTSE 100 - Risers

Intertek Group (ITRK) 4,308.00p 12.83%

Metlen Energy & Metals (MTLN) 34.94p 4.86%

Fresnillo (FRES) 3,691.00p 4.74%

Burberry Group (BRBY) 1,169.80p 3.59%

InterContinental Hotels Group (IHG) 143.40p 3.53%

Convatec Group (CTEC) 238.00p 3.48%

Rentokil Initial (RTO) 506.80p 3.47%

Rolls-Royce Holdings (RR.) 1,312.20p 3.37%

Halma (HLMA) 4,262.00p 3.20%

International Consolidated Airlines Group SA (CDI) (IAG) 395.00p 3.19%

FTSE 100 - Fallers

Imperial Brands (IMB) 2,933.00p -4.83%

British American Tobacco (BATS) 4,224.00p -3.10%

Tesco (TSCO) 470.05p -2.97%

Shell (SHEL) 3,375.50p -2.75%

BP (BP.) 565.10p -2.50%

Airtel Africa (AAF) 372.60p -2.05%

Berkeley Group Holdings (The) (BKG) 3,390.00p -1.80%

Bunzl (BNZL) 2,313.00p -1.62%

Unilever (ULVR) 4,250.00p -1.05%

Haleon (HLN) 357.20p -0.92%

FTSE 250 - Risers

Ceres Power Holdings (CWR) 347.60p 14.19%

THG (THG) 34.98p 13.57%

Raspberry PI Holdings (RPI) 556.50p 9.60%

Oxford Biomedica (OXB) 625.00p 9.27%

Wizz Air Holdings (WIZZ) 1,018.00p 8.47%

Aston Martin Lagonda Global Holdings (AML) 43.70p 7.32%

Oxford Nanopore Technologies (ONT) 112.90p 7.12%

Hays (HAS) 31.20p 6.27%

International Workplace Group (IWG) 194.70p 5.76%

easyJet (EZJ) 396.40p 5.43%

FTSE 250 - Fallers

Energean (ENOG) 834.00p -4.79%

Diversified Energy Company (DI) (DEC) 1,172.00p -4.25%

AO World (AO.) 90.50p -3.72%

Ithaca Energy (ITH) 248.00p -3.50%

Harbour Energy (HBR) 273.80p -3.25%

Trainline (TRN) 235.00p -1.67%

The Renewables Infrastructure Group Limited (TRIG) 66.60p -1.19%

Twentyfour Income Fund Limited Ord Red (TFIF) 110.80p -0.54%

International Personal Finance (IPF) 246.00p -0.40%

Taylor Wimpey (TW.) 84.80p -0.28%