What caused the FTSE 100 to rise and end its six-day losing streak?

The FTSE 100 rose 0.4% to 10,367.61 points, ending its six-day losing streak, primarily due to BP's stronger-than-expected first-quarter profit—which more than doubled year-on-year—lifting energy stocks; BP shares rose 3.1%, Shell added 2.3%, and Tullow Oil surged 12% after raising its annual oil production forecast, all aided by an extended rally in crude prices amid the ongoing U.S.-Iran geopolitical standoff.

Why are energy stocks performing strongly despite geopolitical tensions?

Energy stocks advanced because the persistent U.S.-Iran stand-off fueled an extended rally in crude prices, creating a 'bullish case for oil & gas producers' as noted by Scope Markets' chief market analyst Joshua Mahony, who explained that sector profits naturally fluctuate with commodity price changes—even if some label it 'profiteering'—and companies like BP, Shell, and Tullow benefited directly from higher oil prices and improved operational outlooks.

London's FTSE 100 Set to Snap Six-Day Losing Streak on BP Boost

Apr 28, 2026

London's FTSE 100 index rose 0.4% to end a six-day losing streak, driven by strong quarterly profits from energy majors BP and Shell amid rising crude prices linked to U.S.-Iran tensions.

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London's FTSE 100 Set to Snap Six-Day Losing Streak on BP Boost

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