FTSE 100 Live: Shares jump as oil prices fall as Iran allows some Hormuz shipping

• FTSE 100 up 84 points to 10,049

• Brent lipid terms falls beneath $100

• Iran says 'non-hostile' vessels allowed done Hormuz

• Trading updates Asos, Diageo, Crest Nicholson, RS Group

Average UK location prices were up 1.3% in the twelvemonth to January, easing from December's 1.9% growth.

The mean monthly complaint of location terms maturation successful January fell 0.3%, with the mean UK location terms presently astatine £268,000.

Average UK backstage rents roseate by 3.5% successful the twelvemonth to February, unchanged since January 2026.

ONS caput of housing, Ian Boreham, said: "UK yearly location terms ostentation continued to easiness successful January."

He noted that location prices person fallen successful the southbound of England, with London seeing an yearly alteration for the sixth consecutive period with interior London boroughs seeing the biggest declines.

The North West was the English portion with the highest terms inflation.

“After implicit a twelvemonth of slowing yearly growth, UK backstage rents ostentation held dependable successful the twelvemonth to February," Boreham said. "Whilst successful galore parts of the UK the yearly maturation successful rental prices has continued to fall, successful the South West and successful Yorkshire and the Humber determination person been tiny increases portion London has seen a larger rise."

After conscionable implicit an hr of trading, the FTSE has mislaid immoderate of its aboriginal caput of steam but is inactive up implicit 1%.

Gains successful Europe are besides strong, with benchmarks successful Frankfurt, Paris, Milan and Madrid each up astir 1.3-1.5%.

In London, Asos is 1 of the large risers, up 15% connected the backmost of its update earlier.

RS Group, the former Electrocomponents, is down 4% as full-year profits marginally up of expert expectations were mostly ignored arsenic investors focused connected a steeper-than-expected driblet successful revenues.

Markets are higher this greeting arsenic optimism is increasing astir a imaginable solution to the Middle East conflict, says marketplace expert Matt Britzman astatine Hargreaves Lansdown.

Washington has reportedly sent Tehran a rehashed 15-point connection aimed astatine resolving tensions, portion Israeli media bespeak that the US is pushing for a one-month ceasefire to let negotiations to instrumentality place.

But, arsenic per the update below, comments coming retired of Iran are not positive. On the positive side, Iran said "non-hostile" vessels could usage the important Strait of Hormuz shipping route.

Oil prices person moved lower, which Britzman says offers immoderate alleviation to equities that had been weighed down by worries implicit ostentation and the knock-on interaction for involvement rates.