The FTSE 100 ended Friday slightly weaker as markets reacted to fresh comments from US President Donald Trump over a possible peace agreement with Iran, while falling oil prices dragged on energy-linked sentiment across Europe.
London’s benchmark index closed down 0.2% at 10,409.28, although the FTSE 250 outperformed with a 0.4% rise to 23,425.77 as investors shifted attention towards company-specific developments.
Markets spent much of the session digesting a lengthy social media statement from Trump, who said he was heading to the Situation Room to make a “final determination” on whether to proceed with a deal involving Iran.
He repeated demands that Tehran must permanently abandon nuclear weapons ambitions and reopen the Strait of Hormuz to shipping traffic.
Trump also claimed Iran would begin removing mines from the strait immediately and said a US naval blockade of Iranian ports would be lifted, allowing oil tankers to resume movements, although there was no confirmation from Iran and no indication that restrictions had actually been removed before any agreement was signed.
The prospect of reduced disruption to oil supplies pushed Brent crude sharply lower, trading at $91.62 a barrel compared with $94.57 at Thursday’s London equities close.
European markets were subdued, with Paris’ CAC 40 slipping 0.1% while Frankfurt’s DAX 40 edged 0.1% higher. On Wall Street, sentiment remained firmer as the Dow Jones Industrial Average climbed 0.7%, the S&P 500 gained 0.3% and the Nasdaq Composite added 0.2%.
Technology stocks in the US drew much of the attention after Dell Technologies surged 31% following stronger-than-expected first-quarter earnings and a dramatic increase to its long-term revenue outlook. The company raised financial 2027 revenue guidance by $30 billion to between $165 billion and $169 billion.
In London, online grocery technology specialist Ocado Group jumped 7.1% after agreeing a deal to help develop Asda’s online grocery operations across the UK.
Asda processes more than 700,000 online grocery orders each week and generated over £21 billion in sales during 2025. Bank of America estimated the agreement could eventually generate annual revenue for Ocado of between £21 million and £30 million once fully rolled out by financial 2028, describing the arrangement as both positive and highly profitable.
The deal unsettled rival supermarkets stocks. Shares in Tesco fell 2.2% while J Sainsbury lost 2.3% after RBC Capital Markets warned the partnership could strengthen Asda’s position in the fast-growing online grocery sector.