FTSE 100 Modestly Lower As Middle East Tensions Weigh
(RTTNews) - The UK stock market's benchmark FTSE 100 drifted lower on Thursday with investors reluctant to pick up stocks amid uncertainty about U.S.-Iran truce.
Iran has closed the Strait of Hormuz and threatened to walk away from the agreement as Israel continues to strike Lebanon. U.S. President Donald Trump has also warned of renewed escalation in the event of Iran not making an attempt to reach a broader deal.
"The U.S. must choose ceasefire or continued war via Israel. It cannot have both. The world sees the massacres in Lebanon. The ball is in the U.S. court, and the world is watching whether it will act on its commitments," Iran Foreign Minister Araghchi said in a post on X.
U.S. President Donald Trump said that U.S. military forces will remain deployed in and around Iran until Tehran fully complies with the "real agreement."
Brent crude prices rose sharply, raising concerns about inflation and possible rate hikes by central banks. Brent crude futures moved up nearly 4% to $98.53 a barrel.
The FTSE 100, which advanced to 10,644.15 in early trades, was down 34.43 points or 0.33% at 10,574.45 about a quarter before noon.
Standard Life fell more than 4%. Fresnillo shed 3.7%, while Reckitt Benckiser and Croda International lost 3.1% and 3%, respectively.
Entain, Convatec Group, Compass Group, Lloyds Banking Group, Persimmon, Experian, Howden Joinery Group, Babcock International, Barratt Redrow, Standard Chartered, The Sage Group, Informa, Diageo and Haleon lost 1.6%-2.7%.
Among the gainers, BP moved up 2.5%, DCC rallied 1.8%, LSEG advanced 1.7% and Severn Trent rose 1.5%. United Utilities, Diploma, Vodafone Group, SSE, National Grid, IG Group and Halma also moved higher.
U.S. Dollar Ticks Higher Amid Inflation Data Release, Expectations Of Reopening Of Strait Of Hormuz
TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak
Swiss Market Ends Modestly Higher
European Markets Rise As Oil Prices Fall On IEA Demand Cut
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected
