Shares round-up: big winners in relief rally
Anticipation that war in the Middle East may be nearing an end has got investors in bullish mood, despite the likelihood of further volatility. Graeme Evans runs through the session’s big movers.
1st April 2026 15:25
by Graeme Evans from interactive investor
Demand for Barclays (LSE:BARC), HSBC Holdings (LSE:HSBA) and Lloyds Banking Group (LSE:LLOY) today rebounded as the FTSE 100 index joined a global stock market recovery on hopes of an imminent end to the Middle East war.
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The lenders were among the leading beneficiaries of improved risk appetite as a fifth of blue-chip stocks rose by 4% or more and four, including Rolls-Royce Holdings (LSE:RR.), lifted more than 6%.
The FTSE 100 index reached mid-afternoon at 10,311.22, a rise of 134.77 points after the S&P 500 index built on yesterday’s Wall Street recovery with a gain of 44.05 points to 6,572.57.
UBS Global Wealth Management said the recent improvement demonstrates why investors should stay invested and positioned for market upside during episodes of turbulence.
The bank added: “We continue to believe global stock markets will end the year higher than they are today. At the same time, while signs of a willingness to negotiate are positive, hurdles remain before an actual end to the conflict.
“A resumption of energy flows may take longer still, and we note that a sudden end to the conflict, while leaving the status of the Strait of Hormuz unclear, may also leave energy prices higher for longer.”
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Elsewhere in the FTSE 100, miners Anglo American (LSE:AAL) and Antofagasta (LSE:ANTO) returned to form and catering giant Compass Group (LSE:CPG) jumped by 8% in its first session as a dollar-denominated stock.
British Airways owner International Consolidated Airlines Group SA (LSE:IAG) put back 17.6p, but at 367.4p the shares are still where they were in mid-March and well off the 457p seen in late February.
There was little evidence of a surge in bargain hunting as some of the most sold stocks since the start of the conflict featured lower down the FTSE 100 risers board.
They included Persimmon (LSE:PSN) and Barratt Redrow (LSE:BTRW) amid the read-across from today’s Berkeley Group Holdings (The) (LSE:BKG) update, while the likes of Kingfisher (LSE:KGF) and Intertek Group (LSE:ITRK) failed to regain ground lost in March.
A modest fall in bond yields after traders pushed back on expectations for higher interest rates provided only a small lift for the shares of Land Securities Group (LSE:LAND) and Segro (LSE:SGRO).
Unilever (LSE:ULVR) also remained out of favour after yesterday falling sharply on the sale of its Hellmann’s and Knorr Foods division to US-based McCormick in a $44.8 billion (£34 billion) cash and shares deal.
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The move has created a simpler and more focused player in the household and personal care sector, with the potential to outperform in higher-growth and margin categories.
However, the complexity of carving out Unilever Foods means investors are facing a year-long overhang in what will be a repeat of last year’s situation with the Magnum ice cream division.
The shares fell 89.5p to 4,109.5p, which compares with 5,467p at the end of February.
Bank of America, which has a price target of 6,000p, said that while the growth rationale of the deal is clear it left Unilever more exposed to greater margin variance going forward.
Other fallers included Rightmove (LSE:RMV) after the BBC reported that the online listing portal is the subject of a class action brought on behalf of potentially hundreds of estate agents.
The report said a letter of claim has been sent to Rightmove seeking just under £1.5 billion in damages, claiming the website has “abused a dominant position” in the sector.
Rightmove said that it was aware of reports that an application to commence collective proceedings against the company has been filed with the Competition Appeal Tribunal.
It said: “Rightmove is confident in the value we provide to our partners and consumers, who are at the core of our business solutions and digital platform.”
The retreat of Brent crude towards $100 a barrel put downward pressure on the shares of Shell (LSE:SHEL) and BP (LSE:BP.), although the pair are still about 27% and 31% higher so far this year.
The oil price is still 40% higher than at the start of the war as Iran’s ongoing blockade of the Strait of Hormuz disrupts shipping for oil and gas and other products such as fertiliser.
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