FTSE 100 rises 0.3% as HSBC leads financials; oil pressure persists

London's benchmark index extended its modest recovery, buoyed by banking sector strength even as geopolitical friction in the Middle East kept energy prices elevated.

By Handelsavisen Newsroom · Automated 2026-07-24 12:07 UTC · 1 min read

The FTSE 100 climbed 0.3% to 10,674.68 points on Friday, marking a continued recovery for London's blue-chip index.

Gains in HSBC Holdings provided the primary lift, dragging the broader financial sector higher and offsetting weakness elsewhere in the market.

1% higher in the previous session amid a challenging backdrop for technology shares.

The move extends a modest rebound for the index, which had closed just 0.1% higher in the previous session amid a challenging backdrop for technology shares.

Investors remained cautious, balancing the domestic banking strength against persistent geopolitical risks.

Tensions in the Middle East continued to linger, keeping upward pressure on oil prices and complicating the risk appetite for broader European equities.

The market's reaction reflects a split sentiment: domestic financial health is improving, but external supply-chain and energy risks remain unresolved.

This session follows a period of mixed trading across European markets, where investors had previously reacted to stalled peace negotiations between the U.S. and Iran.