FTSE 100 Stumbles Amid U.S.-Iran Tensions
Britain's FTSE 100 dropped 0.75%, ending a seven-day rise, due to U.S.-Iran tensions threatening the Strait of Hormuz. BT Group saw a 3.5% decline, while energy and defense stocks gained. Wall Street rose and oil prices steadied following a reported U.S.-Iran ceasefire agreement. Economic uncertainties persist.
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Thursday | Updated: 28-05-2026 22:24 IST | Created: 28-05-2026 22:24 IST
Britain's FTSE 100 saw a decline of 0.75%, closing at 10,425.96, a downturn after seven sessions of gains, as renewed hostilities between the U.S. and Iran raised concerns about the security of the Strait of Hormuz.
The midcap FTSE 250 also dipped slightly by 0.26%. BT Group notably fell 3.5% amidst reports of the UK government opposing any increase in stake by Indian billionaire Sunil Bharti Mittal.
Despite the tension, energy and defense stocks rose, reflective of ongoing U.S.-Iran airstrikes and negotiations. A ceasefire agreement is pending, which raised hopes for the reopening of the crucial Strait of Hormuz and supported a positive outlook for UK stocks.
(With inputs from agencies.)
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