London stocks drift lower as Middle East tension simmers
- The FTSE closed down 43.88 points, or 0.4%, at 10,233.07 on Friday as investors in London weighed UK local election results and fresh clashes between the US and Iran in the Middle East.
- Iranian media reported fresh "sporadic clashes" with US naval forces in the Strait of Hormuz on Friday, despite an existing ceasefire that had previously offered hope for a diplomatic deal.
- BT Group led gainers on The FTSE, rising 6.6%, as Goldman Sachs and JPM reiterated positive ratings citing improving equity free cash flow that could support doubling the dividend by 2030.
- Prime Minister Sir Keir Starmer pledged to fight on following Labour's heavy losses in local elections, though the defeat could yet spark a leadership challenge within the party.
- The Index of Consumer Sentiment from the University of Michigan fell to 48.2 in May, its lowest level since 1952, as Americans face high prices and mounting concerns about Iran.
13 Articles
13 Articles
Evening Standard
London stocks drift lower as Middle East tension simmers
The FTSE 100 closed down 43.88 points, 0.4%, at 10,233.07.
FTSE slides as Middle East tensions and Labour turmoil rattle markets - London Business News
The FTSE 100 fell sharply on Friday as investors reacted to a volatile mix of political instability in Britain and renewed fears of disruption in the Middle East. London’s benchmark… The post FTSE slides as Middle East tensions and Labour turmoil rattle markets appeared first on London Business News
FTSE 100 recovers early losses as Middle East tensions rise
The FTSE 100 recovered early losses on Friday, trading little changed as traders assessed the latest developments in the Middle East. We’re in a strange situation where Donald Trump is suggesting the US is nearing a deal with Iran while at the same time restarting military action against them. The escalation of military action in […] The post FTSE 100 recovers early losses as Middle East tensions rise appeared first on UK Investor Magazine.
London stocks slip as Middle East ceasefire doubts hit sentiment
The UK’s benchmark FTSE 100 index edged lower on Friday as renewed tensions in the Gulf unsettled global markets, while investors also assessed early local election results that showed heavy losses for Prime Minister Keir Starmer’s Labour Party.The blue-chip FTSE 100 index fell 0.1% to 10,261.38 points by 0947 GMT and was on track for a third consecutive weekly decline. Meanwhile, the domestically focused FTSE 250 index rose 0.2%, extending gai…
Hargreaves Lansdown: Shaky start for London stocks, both local and global politics in focus
Derren Nathan, head of equity research at Hargreaves Lansdown, has shared a market report, as FTSE 100 opens down 0.7%, while Gilt yields in the spotlight after tough night for PM Keir Starmer. The FTSE 100 has opened down, extending yesterday’s losses. Yesterday’s 161-point drop was largely stock-specific. Centrica closed down 5.2% after moving profit guidance to the low end of its target range in its Retail division, and BAE Systems fell 4.7% …
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