FTSE 100 Closes at 10,455, Up 0.58%; Relief Rally Holds as Brent Pulls Back to $95.20
The FTSE 100 closed at 10,455 on Friday, up 0.58% on the day and 0.5% on the week, as Trump’s “deal nearly done” framing and the cancelled Kharg seizure threat sustained the Friday relief rally. Brent crude fell 1.3% to $95.20 a barrel. UK 10-year gilt yields fell back to 4.99% — below the 5% line for the second close in three sessions. Sterling firmed to $1.3425. Gold eased to $4,475. The VIX is down 7.5% to 24.50. Defence stocks BAE Systems, Babcock and Melrose pulled back; oil majors BP and Shell mixed on the Brent slide.
The Friday close completes the cleanest single-week relief rally since the Friday-week-ago $93.80 Brent close. The week traded between $99.50 Thursday-evening high and $94.50 Wednesday-evening low; the Friday $95.20 close is right in the middle. If the IRNA seven-principle framework disclosure proves to be the structural deal architecture and the Trump-Iran info war does not derail the formal signing, Brent likely tests $88-92 within 48-72 hours and the FTSE could push toward 10,500. If the Iranian Hormuz-reestablishment closure operationalises through the weekend, Brent likely tests $100 again. The 4.99% gilt yield is below the 5% line; the Bank of England MPC’s decision later this month is the binding macro variable.