Energy stocks outperformed as oil prices soared to the highest level since October amid tensions in the Middle East and supply cuts. The FTSE 100 ended yesterday’s session 0.2% lower and was down 0.5% this morning.

In corporate news, Topps Tiles' shares fell by 3.4% due to subdued demand affecting its half-year profit. However, Dr. Martens' stock rose by 5.3% after Marathon Partners Equity Management suggested a strategic review that could lead to a sale, boosting the personal goods index by 1.1%.

Wizz Air reported a 12% increase in March passengers, with a slight decrease in load factor due to the Easter period. The airline also resumed flights from Tel Aviv.

Investors are awaiting further insights from Federal Reserve Chair Jerome Powell's upcoming speech, to get more clues about the rate cut timeline. So far, Fed officials have expressed mixed views on the need for rate adjustments, with some suggesting a more cautious approach due to strong economic growth.

Investors are also focused on upcoming economic data releases, including eurozone consumer price inflation and unemployment, the ADP U.S. jobs report, and U.S. PMIs.

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