UK equities began the week under pressure as geopolitical concerns weighed on markets, after U.S. President Donald Trump issued a 48-hour deadline regarding Hormuz while Iran responded with only a limited reopening to neutral vessels.
By 08:10 GMT, the benchmark FTSE 100 had declined 1.5%, while the GBP/USD exchange rate weakened 0.3% to $1.3306. Across Europe, Germany’s DAX dropped 1.9%, and France’s CAC 40 slipped 1.5%.
UK round up
Shares in Applied Nutrition PLC (LSE:APN) fell more than 16% in early Monday trading after the UK supplements maker cautioned that sales volumes in the Middle East could soften due to the conflict involving Iran, although it kept its full-year revenue outlook unchanged.
British Prime Minister Keir Starmer on Monday denounced the overnight burning of ambulances serving London’s Jewish community as a disturbing antisemitic incident, stressing that such hatred has no place in society.
“This is a deeply shocking antisemitic arson attack,” Starmer said in a post on X. “My thoughts are with the Jewish community who are waking up this morning to this horrific news. Antisemitism has no place in our society.”
Starmer is expected to meet with senior ministers, including Rachel Reeves, Yvette Cooper and Ed Miliband, as well as Bank of England Governor Andrew Bailey, to discuss the economic impact of the unfolding crisis, according to the Treasury.
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