The blue-chip FTSE 100 index fell 1.1% by 1013 GMT, snapping a two‑day winning streak, while the midcap FTSE 250 fell 1.2%
International News via Reuters:
London’s FTSE indexes dropped more than 1% on Thursday, as lingering uncertainty about a potential end to the Middle East conflict weighed on sentiment.
U.S. President Donald Trump said Iran was desperate to reach a deal to end nearly four weeks of fighting, contradicting Iran’s foreign minister, who said Tehran was reviewing a U.S. proposal but had no plans to enter talks aimed at winding down the conflict.
The blue-chip FTSE 100 index fell 1.1% by 1013 GMT, snapping a two‑day winning streak, while the midcap FTSE 250 fell 1.2%.* Most FTSE 350 sub-indexes traded in the red, except theenergy index, which gained 0.6% as oil prices clawed back lossesfrom the previous session on worries that prolonged fighting inthe Middle East could further disrupt energy flows. * Precious metal miners fell 4.4% as gold prices weakenedamid uncertainty surrounding the conflict. * Britain’s economic growth prospects this year received thesharpest downgrade of any major economy in the OECD’s interimforecast update following the U.S.-Israeli war on Iran, whileinflation is set to rise faster too. * Markets have priced in two or three quarter-point hikesfrom the Bank of England this year, a sharp reversal fromearlier this year when investors were expecting rate cuts. * Next rose 5.1% to the top of the benchmark after CEO SimonWolfson said that the clothing retailer has not seen anoticeable drop off in UK sales since the U.S.-Israeli war onIran started at the end of February. * Currys fell 8.4% after the electrical retailer said CEOAlex Baldock will step down, ending a tenure that delivered aturnaround in profit and margins for the company. * 3i Group fell 7.6% after the private equity firm said thatits discount retailer Action expects like-for-like sales growthbetween 4% and 5% in 2026, broadly similar to the 4.9% growth itrecorded in 2025.
Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Sahal Muhammed
