FTSE 100

Key insight

10,364 intraday low tested today — a close below Oct swing low ~10,420 opens door to 10,200 next; oil surge vs. miner rout is the internal fault line to watch.

Holds 10,469 but 30-yr gilt yield at 6.02% — 28-yr peak — and Brent above $104 on Hormuz fears crush risk appetite; index touched 10,364 intraday low.

Main risk

30-yr Gilt Yield at 28-yr High

6.036% 30-yr gilt peak raises BoE rate-hold fears; every 10bp rise tightens financial conditions and compresses UK equity multiples.