UK equities traded modestly higher on Thursday as investors monitored developments surrounding the Strait of Hormuz while digesting another busy day of corporate earnings releases.
By 03:13 ET (07:13 GMT), the FTSE 100 had gained 0.19%. Germany’s DAX was up 0.06%, while France’s CAC 40 led major European markets with a 0.71% advance. Sterling slipped 0.06% against the US dollar to trade at $1.3460.
Attention remained focused on geopolitical developments after U.S. President Donald Trump dismissed reports suggesting the conflict with Iran had significantly depleted American military stockpiles. In a Truth Social post, Trump said the United States had “massive amounts” of munitions and warned that anyone responsible for leaking military inventory information could face prosecution.
His comments followed a CNN report citing sources who claimed the U.S. had consumed around 80% of its pre-conflict THAAD interceptor inventory and roughly half of its Patriot missile interceptors since fighting began. According to the report, the situation has also raised concerns among Gulf allies that depend on U.S. air defence systems.
Separately, The Washington Post reported that Trump challenged Defense Secretary Pete Hegseth over the reported shortages during a meeting at Camp David last Friday. However, both the White House and the Pentagon rejected the report as “fake news,” with Press Secretary Karoline Leavitt and Pentagon spokesman Sean Parnell denying that any confrontation had occurred.
Meanwhile, Vice President JD Vance told Fox News that negotiations with Tehran would be “messy” and unlikely to conclude quickly. He said Washington would rely on “military, economic and diplomatic” measures to secure a favourable outcome, adding that oil prices, which he said were at “$79 today,” were expected to “come down and stay down.”
Brent crude rose 0.50% to $79.85 per barrel, while US West Texas Intermediate gained 0.25% to $75.41. Gold futures increased 0.35% to $4,320.50 an ounce, with spot gold also rising 0.35% to $4,261.92.
UK company news
Quilter (LSE:QLT) posted first-half earnings below market expectations after a higher policyholder tax charge offset record client inflows and stronger revenue growth.
Wizz Air (LSE:WIZZ) reported a larger-than-anticipated quarterly loss as higher fuel prices and weaker unit revenues outweighed strong capacity growth, while also warning of a softer outlook for the current quarter.
Persimmon (LSE:PSN) increased its forecast for 2026 home completions to the upper end of its previous guidance, although it cautioned that rising construction costs may not be fully recoverable in 2027.
Harbour Energy (LSE:HBR) upgraded its full-year production and free cash flow guidance following record first-half output and stronger oil and gas prices, while also unveiling a $250 million share buyback programme.
Michael Page (LSE:PAGE) reported higher first-half profit, with growth across Asia-Pacific and the Americas helping to offset continued macroeconomic uncertainty in global recruitment markets.
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