FTSE 100 reaches 10,936 as banks and Diageo rise
Published on 11/05/2026 at 13:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFTSE 100 extends midweek rally
- The latest reported FTSE 100 level was 10,936.00 points on Thursday, up 0.99% from Wednesday's close of 10,829.21.
- Banks and Diageo supported the advance, while falling oil prices weighed on Shell and BP.
- Investors were focused on the Bank of England's interest-rate decision due at noon London time.
The FTSE 100 extended Wednesday's rally on Thursday, with the latest reported reading putting the index at 10,936.00 points. That represents a gain of 0.99% from the previous session's close at 10,829.21, calculated from the levels reported for the FTSE 100. The move took the blue-chip index to its highest level since August, according to Trading Economics.
Banks lead the advance
Financial stocks were among the main supports for the index as investors positioned ahead of the Bank of England's interest-rate announcement. Barclays, Standard Chartered, Lloyds Banking Group and HSBC were all reported higher in morning trading. Market expectations pointed to a 25-basis-point increase in Bank Rate to 4.00%, although the accompanying guidance was likely to be important for the outlook for further tightening.
Yahoo Finance said the banking rally was accompanied by a roughly 5% rise in Diageo after the drinks company reported first-quarter revenue above analysts' expectations. The company-specific gains added support from the consumer sector, while the broader European equity market also advanced.
Oil decline offsets part of gains
Energy stocks moved in the opposite direction. Brent crude traded below 100 US dollars per barrel and extended a sharp weekly decline, according to City AM. Shell and BP were reported lower as investors reassessed the energy outlook. The contrasting performance of banks and energy producers reflects the FTSE 100's sector composition and helps explain why the index advanced despite weakness among oil majors.
Policy decision remains the next catalyst
The session remained focused on the Bank of England's decision and its assessment of inflation and future policy. For investors, the reaction in sterling, bond yields and rate-sensitive domestic shares may matter as much as the initial rate move. The latest index level is an intraday indication rather than a closing value; the official session close will be established only after the London market finishes.
More FTSE 100 coverage is available on the FTSE 100 topic page.
