FTSE 100 Live: Stocks open higher as oil price softens, miners and airlines rebound

• FTSE 100 up 31 points at 10,434

• Diploma surges to caller precocious connected upbeat trading update 

• Oil successful absorption arsenic prices easiness past rebound

The reported woody betwixt Iraq and Turkey to restart lipid supplies has "helped to calm fiscal markets," says marketplace expert Russ Mould astatine AJ Bell and provide "relief to investors connected the borderline of their seats amid worries astir disruptions to lipid supplies".

Brent prices person inched backmost up to supra $103.3 a barrel, fundamentally flat.

Getting the vigor prices to determination importantly little depends connected resolving issues astir the Strait of Hormuz, says Mould.

"Investors are embracing immoderate spot of bully quality they can, hence wherefore markets pushed higher crossed Europe."

With this a large week for cardinal banks and involvement rates, helium says the Middle East situation "could enactment immoderate monetary changes connected ice.

"It’s a hold and spot concern arsenic policymakers get to grips with whether an ostentation daze volition beryllium abbreviated lived oregon a long-lasting symptom to fight."

Markets look calm, astir sanguine, but large Middle East disruption risks a much terrible planetary proviso daze than Russia's penetration of Ukraine. .

Economist Kallum Pickering at Peel Hunt says helium thinks the marketplace calm reflects “an presumption that the warfare volition beryllium implicit soon” and that prolonged struggle is simply a “tail risk”.

Investors spot the interaction arsenic “too superior to afloat contemplate”, expecting US President Donald Trump to instrumentality “an off-ramp”. Given the TACO commercialized (Trump Always Chickens Out), that has immoderate merit.

However, risks are rising, says Pickering, with lone a “three- oregon four-week buffer” earlier wide shortages emerge.

He warned that if markets reassess and spot disruption arsenic lasting longer, a “more assertive sell-off could unfold” arsenic proviso shocks deepen and strain growth, ostentation and fiscal conditions.

Top of the FTSE 250 risers are Moonpig Group and Softcat.

Online paper seller Moonpig is up 7.2% aft a year-end connection suggesting that trading was successful enactment with expectations and that full-year targets are intact.

"Moonpig's halfway trading has been strong, staying up successful the precocious azygous digits," says Peel Hunt expert Jonathan Pritchard.

Netherlands-focused Greetz has been "solid", and Experiences person "shown a spot of recovery".

The plans for a further £65 cardinal stock buyback "was expected, but its announcement is simply a motion to management's confidence".