FTSE 100 Rises Over 1% Early on Optimism Amid Middle

LONDON — Next plc dominated the gainers Thursday as the blue-chip index edged lower amid renewed oil price volatility and lingering geopolitical uncertainties tied to the Middle East.

The FTSE 100 closed at approximately 10,030, down about 0.76% or 76 points from Wednesday's close above 10,106. The session saw mixed performance, with energy stocks showing modest resilience while broader sentiment remained cautious.

Here are the **five biggest gainers** in the FTSE 100 on March 26, 2026, based on intraday and closing data from major market trackers (percentages reflect price moves during the session; exact closes can vary slightly by source and timing):

1. **Next plc (NXT)** — Up nearly **6%** to 12,755 pence.
The clothing and homewares retailer led the index by a wide margin. Shares jumped on continued positive momentum from recent trading updates, share buybacks and strong consumer demand signals in its core categories. Next has been repurchasing shares aggressively, with a latest announcement of buying back 95,003 shares on March 24 at an average price around 12,010 pence. The move supports earnings per share and signals management confidence.

2. **BP plc (BP.)** — Up **1.18%** to 573.80 pence.
The oil major gained as energy stocks held relatively firm despite broader market pressure. BP benefited from a modest recovery in oil prices after earlier declines linked to hopes (and subsequent doubts) around U.S.-Iran de-escalation talks.

3. **Shell plc (SHEL)** — Up **0.87%** to 3,463 pence.
Fellow energy giant Shell also rose modestly, tracking sector trends. Both BP and Shell have been volatile this week amid fluctuating crude prices, which briefly dipped below key levels before rebounding on renewed inflation concerns.

4. **BT Group plc (BT.A)** — Up around **0.5%** to 207.10 pence.
The telecoms operator posted solid gains in a defensive session, possibly supported by stable demand for connectivity services and bargain-hunting after recent volatility.

5. **Sainsbury (J) plc (SBRY)** — Up **0.6%** to approximately 333-334 pence.
The supermarket chain rounded out the top performers, reflecting resilience in consumer staples amid economic uncertainty. Food retailers have offered relative stability as investors seek defensive plays.

Other notable risers during the session included GSK, Experian and DCC, though none matched Next's outsized move.

### Market Context
The FTSE 100 has experienced significant swings in March 2026. It briefly reclaimed the psychologically important 10,000 level earlier in the week before pulling back. Geopolitical developments in the Middle East, including conflicting signals on U.S.-Iran relations and oil supply risks, have weighed on sentiment and pushed energy prices higher at times, reviving inflation worries.

On Wednesday, March 25, the index had risen more than 1% to close at 10,106.84, buoyed by easing oil prices and de-escalation hopes. Thursday's modest decline reflected a reversal as oil firmed again.

Retail heavyweight Next's strong performance stood out against the softer index tone. The company has delivered consistent upgrades in recent quarters, driven by a diversified offering that includes online sales, international expansion and its finance arm. Analysts have highlighted its improved fashion ranges and operational efficiency. Next is scheduled to report full-year results soon, and investors appear to be pricing in continued resilience despite broader UK consumer spending pressures.

Energy names like BP and Shell remain sensitive to global crude benchmarks. Brent crude has oscillated around the $100-per-barrel level in recent sessions, influenced by Middle East tensions and demand outlook. A sustained rise in oil could pressure inflation expectations and delay potential Bank of England rate cuts, indirectly affecting the broader market.

Consumer staples such as Sainsbury benefited from their defensive qualities. UK supermarkets have navigated cost-of-living challenges with steady volume growth in essentials, even as discretionary spending softens in some areas.

### Broader Implications
Thursday's session underscores the FTSE 100's mixed composition. While the index includes global giants in energy, mining and pharma that react to international events, domestic-facing names like Next and Sainsbury can decouple on company-specific news.

Next's leadership among gainers highlights the appeal of high-quality UK retailers with strong balance sheets and shareholder return policies. The company's ongoing buyback program reduces share count and can support valuations. Over the longer term, Next has been one of the better-performing FTSE 100 stocks in recent years due to its adaptability in both physical and digital retail.

For energy investors, BP and Shell continue to offer attractive dividends, though their share prices remain tied to commodity cycles. Analysts often view the pair as barometers for the UK's exposure to global energy markets.

The FTSE 100's year-to-date performance has been respectable compared with more volatile international peers, supported by relatively attractive valuations versus U.S. indices. However, ongoing geopolitical risks and domestic economic data — including steady UK inflation readings — will likely keep volatility elevated in coming weeks.

Investors should monitor upcoming corporate earnings, oil price developments and any fresh headlines from the Middle East. Defensive sectors and companies with robust capital return policies, like Next, may continue to attract attention in uncertain times.

*Data compiled from London Stock Exchange, Hargreaves Lansdown and other market sources as of March 26, 2026 trading. Percentages are approximate and based on reported intraday/closing moves; always verify with real-time quotes. Past performance is not indicative of future results. This article is for informational purposes only and not investment advice.*