FTSE 100

Key insight

10,830 is now the pivot: a Friday close above it opens the Aug high at 10,900+; a rejection here risks re-testing 10,750 as gilt yields and Brent oil dominate the tape into the weekend.

Recovered 70+ pts from two-week low at 10,756 — gilt yields off 5.268% peak reduce pressure, but US-Iran tensions and oil above $90 cap upside near 10,830 resistance.

Main risk

UK Gilt Yield Spike & Oil above $90

10-yr gilt hit 5.268% mid-week — sustained above 5.20% makes equities expensive vs bonds; Brent near $90 fans inflation fears, delaying BoE cuts.