FTSE 100 Live 30 March: Index steady despite $116 oil price, car finance update due

The surge in energy prices continued today after President Trump said he is considering seizing Iranian oil hub Kharg Island .

Despite Brent Crude oil trading above $116 a barrel, the FTSE 100 index posted a stronger performance.

Meanwhile, motorists and banks including Lloyds are awaiting the FCA's final decisions on car finance redress .

Debenhams Group hikes earnings outlook
The owner of Boohoo and Debenhams today said it expects to report better-than-expected results as its turnaround plan gathers pace.

Debenhams Group, which was renamed from Boohoo last year, has forecast underlying earnings growth of 36% to £53 million for the year to the end of last month.

It had previously guided for underlying profits of £50 million.

The firm, which also runs brands including Karen Millen, also sees double-digit underlying earnings growth in 2026-27 as sales declines continue to improve.

Chief executive Dan Finley said: “Our multi-year turnaround strategy continues at pace.”
He hailed “significant progress” in its overhaul, but added “there is still more to be delivered and we now focus on growth”.

FTSE 100 higher despite oil price surge
The FTSE 100 index has edged up 15.30 points at 9982.65, despite Brent crude’s price to near $116 a barrel.

The improvement follows Friday’s resilient showing, when London’s top flight outperformed sharply lower Wall Street benchmarks.

Shell lifted 32.5p to 3,514.5p after the price of Brent crude topped $115 a barrel.

Rio Tinto led the FTSE 100 with a rise of 225p to 6770p.

British Airways owner IAG fell 3.5p to 352.7p at the bottom of the FTSE 100.

Starmer to meet business leaders amid economy fears
Keir Starmer is due to meet representatives from the energy, shipping and financial services industries amid warnings the UK could suffer serious economic damage as a result of the conflict.

Discussions later today are expected to focus on Iran’s ongoing blockade of the Strait of Hormuz, which has disrupted a vital shipping route for the oil and gas industry along with supplies of other products such as fertiliser.

The meeting will also hear an update on the situation in the region from Major General Richard Cantrill, the UK’s maritime operations commander.

FTSE 100 steadies, oil price up 59% in March
FTSE 100 futures have pulled back slightly, despite Brent crude’s rise above $115 a barrel.

IG trading now points to a broadly flat start for London’s top flight, with Wall Street also on course for a small rise.

The Nikkei 225 has fallen 2.8%, while the Hang Seng index has rallied to stand 0.6% lower.

The price of oil is up by 59% in March, which would be the biggest monthly jump on record.

S&P 500 on worst run since 2022, three-month Brent price at $100
The S&P 500 index is on its worst run since 2022 after Friday’s 1.7% decline resulted in the leading benchmark’s fifth consecutive weekly decline.

The tech-focused Nasdaq fell by more than 3% last week, its worst performance since last April’s Liberation Day sell-off.

The Vix index of volatility ended the week above 30, which is the highest level in almost a year.

Today’s decline for Asia markets came as Iran-backed Houthi militants joined the conflict and the Wall Street Journal reported that President Trump is weighing a military operation to extract Iran’s uranium .

Brent Crude this morning topped $115 a barrel, while Deutsche Bank noted that fears about a longer conflict are evident in a 1.8% rise for three-month Brent crude futures to $100.50.

The bank added: “It’s becoming clear that markets are expecting an extended period of high oil prices, with stagflationary implications for the global economy.

“Interestingly though, the primary concern this morning has shifted back to the growth side rather than inflation.”
It noted that markets are pricing out the likelihood of imminent interest rate hikes and sovereign bond yields have fallen.

Motorists await FCA car finance update
Final decisions on the long-awaited programme will be published by the Financial Conduct Authority after the close of markets later today.

The regulator set out draft plans last year but it is likely to make several changes after receiving more than 1,000 responses to its consultation.

Under the latest proposals, the scheme will cover car finance agreements taken out between April 6 2007 and November 1 2024.

FTSE 100 seen lower as oil hits $115, aluminium prices rise
The FTSE 100 index is seen opening 0.3% lower after the Middle East conflict entered its second month with Brent crude oil at $115.15 a barrel, up 2% in today’s session.

Aluminium prices have also risen sharply after Iran attacked two of the region’s major producers.

Asia markets are lower, with Tokyo’s Nikkei 225 down by 3.3% and the Hang Seng index off by 1.2%.

This followed Friday’s sell-off on Wall Street after the Dow Jones Industrial Average and S&P 500 index slid by 1.7% and the Nasdaq Composite reversed 2.2%.

The FTSE 100 outperformed on Friday by closing down 4.82 points at 9967.35 , whereas the UK-focused FTSE 250 index lost 1.6%.