FTSE 100 Down Nearly 1% As Stocks Tumble On Geopolitical Tensions
(RTTNews) - U.K. stocks tumbled on Wednesday amid rising concerns about global economic growth as oil prices climbed to a multi-week high after the U.S. forces destroyed five Iranian tankers and Tehran retaliated by launching missile strikes in Jordan.
Brent crude futures climbed to $100.49 a barrel, gaining more than 2.5%. WTI crude oil futures rose to $95.09 a barrel, gaining about 2.3%.
U.K.'s benchmark index FTSE 100 was down 106.27 points or 0.98% at 10,705.39 nearly half an hour past noon.
Aberdeen Group advanced 1.8% after the wealth and investment firm named insurance veteran Torbjorn Magnusson as its new chair.
Computacenter, Centrica, BP, SSE, Severn Trent, Entain, Endeavour Mining, Associated British Foods and BT Group gained 0.6%-1.7%.
Victrex, a supplier of high-performance polymers, soared 15% after lifting its full-year pre-tax profit guidance and appointing an interim CFO.
Energean, an international hydrocarbon exploration and production company, rallied 7.5% as it posted a 45% jump in first-half profit.
Autotrader Group dropped about 4.5%. Burberry Group drifted lower by 3.2%. Lion Finance, Barclays, Games Workshop, Halma, HSBC Holdings, Rolls-Royce Holdings, M&G, Lloyds Banking Group, Coca-Cola JBC, Prudential, IAG, 3i Group, LSEG, Melrose Industries, Anglo American Plc and Antofagasta lost 2%-3%.
Natwest Group, Standard Chartered, Antofagasta, Smiths Group, F&C Investment, Intercontinental Hotels Group, Investec, Aviva and Legal & General also declined sharply.
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