FTSE 100 Today: Index Gains 0.50% as Earnings Boost UK Stocks Despite Middle East Strikes

The FTSE 100 gained 0.50% by mid-morning trading on Wednesday, July 29, 2026. Strong earnings from Standard Chartered, Reckitt Benckiser, and Rio Tinto drove the rally. This extended Tuesday’s 0.90% gain, when the index closed at 10,878.85. The advance came despite fresh US and Saudi military strikes against Iran-backed groups in Iraq.

FTSE 100 Extends Rally On Earnings Strength

The FTSE 100 (^FTSE) climbed to around 10,931 in early trading, touching a new all-time intraday high above 10,945. As of 07:51 GMT, the index was up 0.50%, building on Tuesday’s 97.10-point gain. Strong corporate earnings continued driving investor sentiment through the session.

• Germany’s DAX added 0.05%, while France’s CAC 40 gained 0.11%.
• Sterling edged up 0.08% to 1.3304 against the US dollar.
• Energy shares led broader gains as crude oil prices jumped sharply.

AJ Bell investment director Russ Mould noted the FTSE 100’s limited technology and AI exposure helped it outperform. This insulated the index from the chip-sector sell-off hitting Asian markets this week.

FTSE 100 closes +0.91% at 10,879.75

Top Gainers: ULVR +7.7%, VOD +4.8%, REL +4.8%
Top Losers: BARC -5.2%, OCDO -4.8%, PRU -4.7%

— Recon Bull (@ReconBull) July 28, 2026

Standard Chartered Leads Banking Gains

Standard Chartered shares surged as much as 4.7% after a standout half-year earnings report. Pre-tax profit rose 9% to $4.78 billion, beating the $4.52 billion analyst forecast. Net profit reached $3.37 billion, also topping expectations comfortably.

• The bank unveiled a new $1 billion share buyback program.
• Standard Chartered raised its dividend by 66%, signaling strong board confidence.
• Wealth management income surged 38%, while global banking revenue rose 20%.

Analyst Richard Hunter described the Asia-focused bank’s multi-year strategy as delivering record rewards. He called the wealth management division the “jewel in the crown” of this quarter’s results.

Reckitt Benckiser And Rio Tinto Boost Consumer And Mining Sectors

Reckitt Benckiser shares gained 3.13% after reporting solid half-year results this week. The consumer goods giant raised its dividend by 5% and added a fresh £500 million buyback. Mining major Rio Tinto also delivered a standout performance during Wednesday’s session.

• Rio Tinto’s profit jumped 43% to $6.9 billion, driven by higher copper prices.
• Glencore shares rose 4.02% after reporting a 15% lift in copper production.
• AI-related demand for copper continues to support mining sector profitability broadly.

Rio Tinto’s results reflect broader commodity market strength tied to global infrastructure and technology investment. This sector rotation has added meaningful support to the FTSE 100 this week.

Middle East Tensions Add Complexity

US Central Command and Saudi Arabian forces conducted precision strikes in eastern Iraq on July 28, 2026. The action targeted Iran-backed groups following more than 30 drone attacks within 72 hours. Oil prices jumped sharply in response to this escalation.

• Brent crude and WTI crude both climbed as the strikes were announced.
• CENTCOM said the strikes targeted groups directed by Iran’s Revolutionary Guard Corps.
• Saudi Arabia’s defense ministry confirmed its forces conducted “targeted strikes” in self-defense.

Rising oil prices typically benefit London’s heavily weighted energy sector within the FTSE 100. This geopolitical risk premium partly explains the index’s resilience despite broader global market uncertainty.

FTSE 100 Outperforms Amid Global Chip Sector Weakness

The FTSE 100’s gains this week stand out against a volatile backdrop across Asian technology markets. South Korea’s KOSPI has faced sharp declines amid AI spending concerns and chip sector selling. London’s index has largely avoided this pressure due to its sector composition.

• The FTSE 100’s limited AI stock weighting has shielded it from recent tech volatility.
• Rolls-Royce has delivered roughly 1,000% to 1,200% in returns since 2021, among the index’s standout performers.
• Investors continue monitoring central bank commentary ahead of upcoming policy decisions this week.

This divergence highlights how sector composition is shaping index performance differently across global markets right now. Commodity and financial-heavy indices like the FTSE 100 are proving more resilient during this AI-driven volatility.

Bottom Line

The FTSE 100’s 0.50% gain reflects genuine earnings strength outweighing geopolitical uncertainty this week. Standard Chartered, Reckitt Benckiser, and Rio Tinto all delivered results that exceeded analyst expectations comfortably. 

Analysts continue crediting the index’s limited technology exposure for its resilience amid global chip sector turmoil. With earnings season still underway, investors should expect continued stock-specific volatility even as the broader FTSE 100 trend remains constructive.

Disclaimer:

The content shared by Meyka AI PTY LTD is for research and informational purposes only. Meyka is not a financial advisory service, and the information provided should not be treated as investment or trading advice.