UK stocks slip as uncertainty over US-Iran ceasefire lifts oil prices

UK's main stock indexes dipped on Monday in a broad-based decline as fears that ‌the U.S.-Iran ceasefire could collapse weighed on market sentiment.

The U.S. seized an Iranian cargo ship and traffic through the Strait of Hormuz remained largely halted, sending crude prices ‌more than 5% higher. The blue-chip FTSE 100 index fell 0.6% to ‌10,603.24 points by 1020 GMT, while the midcap FTSE 250 slipped 1.2%.

* Heavyweight bank Barclays was down 2.3%, while HSBC dipped 1.2%, bringing the broader financials index 1.7% lower. * Precious metal ⁠miners ​Fresnillo and Hochschild fell ⁠about 2%, tracking a decline in gold and silver prices.

* British Airways owner IAG was ⁠down 2.8% as crude prices jumped. * Aircraft engine maker Rolls-Royce fell 2.6%, sending the broader ​aerospace & defence sector down 2%.

* AstraZeneca said on Monday its experimental treatment showed ⁠a "meaningful reduction" in moderate-to-severe flare-ups of chronic obstructive pulmonary disease in a late-stage trial. Shares were ⁠down ​1%. * Oil giants BP and Shell rose 2.8% and 2.3%, respectively, tracking gains in oil prices.

* Shares of luxury handbag maker Mulberry climbed 7.5% ⁠after it reported higher annual revenue. * Advertising group M&C Saatchi was down ⁠0.9% after it ⁠warned that the Middle East conflict could hit sport and entertainment business.

* Engineering firm Renishaw gained 6.9% after it raised ‌full-year profit ‌forecast.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)