London, May 11, 2026, 18:10 BST
- The FTSE 100 edged up 0.36% to finish at 10,269.43. The FTSE 250, with a heavier domestic tilt, slipped 0.18% to 22,807.86.
- Airtel Africa surged 14.5%, the biggest gain among blue chips, after parent Bharti Airtel scheduled a May 13 meeting to review possible restructuring of its subsidiary interests.
- Brent crude stuck above $103 a barrel, oil and metals pushing higher as the U.S.-Iran standoff kept energy inflation risks front and center.
The FTSE 100 closed up 0.36% at 10,269.43 on Monday, boosted by strong gains in miners and an all-time high for Airtel Africa. London’s commodity-heavy index managed to push higher, shrugging off renewed worries over oil prices and the Iran conflict.
This shift is notable: London’s biggest stocks lean heavily on global commodities, energy, and exporters—names that tend to hold up when UK growth jitters intensify. The FTSE 250, which tracks mid-cap companies more tied to the home market, edged down 0.18%. Investors didn’t seem eager to pile into domestically focused shares.
Airtel Africa shot up 14.5% to 420.20 pence, leading the FTSE 100. Parent Bharti Airtel, which holds a roughly 63% stake, has called a board meeting for May 13 to look at a possible shakeup—reorganisation moves that may see it consolidate or buy more shares in subsidiaries, including Airtel Africa.
Miners led the charge, with Anglo American up 3.92%, Antofagasta climbing 3.71%, Fresnillo picking up 3.53%, and Rio Tinto tacking on 2.89%. Glencore was in the green as well. A strong move higher in silver and copper prices pushed the sector ahead, leaving miners outperforming in an uneven European session.
Oil refused to sit still. Brent crude futures climbed 2.35% to $103.67 a barrel after U.S. President Donald Trump shot down Iran’s peace proposal, putting supply risks at the Strait of Hormuz back in focus.
“Trump’s dismissal of Iran’s latest nuclear proposal has effectively reversed last week’s peace deal optimism,” said Patrick Munnelly, market strategy partner at TickMill. He noted that with the Strait of Hormuz remaining tight, traders have stopped factoring in any straightforward de-escalation. Sharecast
Shares in Compass Group jumped 2.34% after the caterer lifted its 2026 profit guidance. Underlying operating profit growth is now forecast above 11%, revised up from around 10%, following a 12% increase in first-half underlying operating profit to $1.84 billion. The market found another company-specific reason to rally.
Compass CEO Dominic Blakemore pointed to “great momentum across the business,” citing fresh contract wins, loyal clients and improving margins. That outlook stands in stark contrast to French rival Sodexo, which in April lowered its full-year sales and profit guidance. AJ Bell
IAG shares jumped 6.42% after JPMorgan repeated its overweight call, pointing to a solid first quarter and firm pricing, Sharecast reported. The gain in the airline group helped counter weakness across rate-sensitive names like JD Sports, Reckitt Benckiser, and Whitbread.
UK conditions stayed sluggish. Permanent staff placements dropped at their quickest rate since January, according to a survey from KPMG and the Recruitment and Employment Confederation. Vacancies slipped for the 30th straight month—both figures point to firms pulling back amid mounting costs and uncertainty.
Jon Holt, group chief executive at KPMG, pointed to “small signs of recovery” in the jobs market, but flagged that heightened uncertainty around the Iran conflict could have knocked that momentum. The survey, which gathered input from roughly 400 recruitment agencies, covered responses collected between April 9 and April 24. KPMG
The rally’s been built on shaky ground. With oil hovering above $100, inflation might stick around longer, which could tie the Bank of England’s hands on policy moves and squeeze UK consumers, midcaps, and retailers even more. Strategists at BofA Securities noted “fiscal pressures are high,” warning that the government may end up needing to help households if an oil-price shock hits. MarketScreener
Stoxx 600 ticked up 0.11% across Europe. Germany’s DAX managed a slim 0.07% gain, while the CAC 40 in France slipped 0.76%. London’s FTSE squeezed out some outperformance—not so much thanks to broad risk appetite, but on the back of the familiar play: miners, companies earning abroad, and a few names moving on their own headlines.
