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

Mulberry

20/04/2026 10:40

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April 20 (Reuters) - 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 .FTSE fell 0.6% to 10,603.24 points by 1020 GMT, while the midcap FTSE 250 .FTMC slipped 1.2%.

Heavyweight bank Barclays BARC.L was down 2.3%, while HSBC HSBA.L dipped 1.2%, bringing the broader financials index .FTNMX301010 1.7% lower.

Precious metal miners Fresnillo FRES.L and Hochschild HOCM.L fell about 2%, tracking a decline in gold and silver prices.

British Airways owner IAG ICAG.L was down 2.8% as crude prices jumped.

Aircraft engine maker Rolls-Royce RR.L fell 2.6%, sending the broader aerospace & defence sector .FTNMX502010 down 2%.

AstraZeneca AZN.L 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 BP.L and Shell SHEL.L rose 2.8% and 2.3%, respectively, tracking gains in oil prices.

Shares of luxury handbag maker Mulberry MUL.L climbed 7.5% after it reported higher annual revenue.

Advertising group M&C Saatchi SAA.L was down 0.9% after it warned that the Middle East conflict could hit sport and entertainment business.

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

 (Reporting by Utkarsh Tushar Hathi; Editing by Shreya Biswas)

 ((utkarshtushar.hathi@thomsonreuters.com))