FTSE 100

Key insight

The FTSE 100 hit a three-month high of ~10,750 mid-week before pulling back sharply as US-Iran tensions reignited; the index is now in a critical consolidation zone where a hold above 10,550 (50-day MA) is needed to keep the bull case alive into next week's BoE data.

The FTSE 100 is consolidating just below its three-month high near 10,750 after a 1%+ rally Wednesday, with geopolitical risk from US-Iran tensions and elevated crude oil capping further upside while BoE's 3.75% rate stance provides an underlying supportive floor.

Main risk

US-Iran Geopolitical Escalation / Crude Oil Spike

Trump's renewed threats against Iran's infrastructure pushed Brent crude sharply higher, stoking global inflation fears and triggering a broad risk-off selloff that knocked the FTSE 100 from its three-month high at ~10,750 back toward 10,613.