FTSE 100 Live: Stocks search for direction as energy markets react to US-Iran strikes

European equities were little changed as markets digested escalating US-Iran tensions and the resulting jump in oil prices. The FTSE 100 opened higher on gains in BP and Shell, but overall direction remained mixed as investors balanced energy-supportive moves against broader risk-off pressure on tech, airlines and miners. Brent crude briefly topped $79 and reached a three-week high before easing slightly, while gold and silver weakened as the dollar held firm. The article highlights that geopolitical risks around the Strait of Hormuz are keeping a risk premium in crude and may delay rate-cut expectations. It also notes several corporate updates, including a strong PageGroup profit beat, Plus500’s three-year high revenue, and a sharp drop in Oxford Nanopore after a sales miss. AstraZeneca fell after an HSBC downgrade. Overall, the market tone was cautious and driven more by geopolitics and oil than by domestic UK data.