FTSE 100 Rises as US-Iran Peace Talks Loom

The FTSE 100 rose 97 points to close at 10,736 on July 24, 2026, as markets reacted to a China-backed diplomatic initiative. Reports that Pakistan and Iran are exploring a return to peace talks with the United States drove a decline in Brent crude prices, which fell from over $100 per barrel to approximately $95.49.

Domestic economic strength further supported the rally. The UK recorded a three-month high in the composite Purchasing Managers' Index at 52.1, and the Office for National Statistics reported a 1% rise in retail sales volumes for June, exceeding expectations. These gains helped the index recover from recent volatility caused by Middle East tensions and a sell-off in US technology stocks.

Amidst this market growth, Donald Trump implemented new import tariffs ranging from 10% to 12.5% on approximately 60 trading partners, including the European Union and the United Kingdom. The president stated the measures are intended to combat forced labor within global supply chains.